AGP Executive Report
Last update: 11 hours agoLNG Disruption: Qatar’s Amir says the Strait of Hormuz closure and damage to Ras Laffan have disrupted a significant share of exports. Qatar supplies about one-fifth of global LNG, and European gas prices have climbed above €86/MWh, their highest since December 2022. Oil Security: Tanker attacks and threats to Saudi energy sites are keeping pressure on supply, while Riyadh is weighing a major expansion of pipeline capacity to bypass Hormuz. OPEC has cut its 2026 oil-demand growth forecast to 400,000 barrels a day from 1.4 million. Market Outlook: The IMF sees oil averaging $95.74 a barrel in 2026 and warns energy-importing economies face mounting strain. Power Transition: Four-hour batteries are now cheaper than gas peaking plants in every Middle East and Africa market studied; regional storage costs are forecast to fall from $120/MWh in 2026 to $80 by 2035.
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