🛢 Oil and Gas Digest | October 2, 2026
🌍 G7 Urgently Releases 100 Million Barrels
Leaders of the "G7" agreed at a virtual summit to a coordinated release of 100 million barrels of oil and diesel from strategic reserves over four months. France called for not restricting fuel exports. The EU categorically rejected a possible US ban on diesel exports.
📉 Brent fell below 101.43 (-0.9%), the December contract dropped to 87.85 (-3.3%). European gas rose to €76.17/MWh (+1.9%).
🚢 Supertanker Hit in the Strait of Hormuz
A tanker with a capacity of 2.5 million barrels, traveling the "illegal" southern route, was hit 8 km from Oman and caught fire. The crew was unharmed.
🛢 OPEC+ Postpones Capacity Review
The review of production capacities for 2027 quotas has been postponed to mid-November — the war between the US and Israel against Iran disrupted expansion projects in the Middle East.
🌡 Europe: Largest LNG Buyer Warns of Crisis
The head of Jera stated: Qatari LNG will not return quickly, and Europe, with record-low gas stocks, may not survive a harsh winter. Qatar extended force majeure for Asia until November, and for Europe until December.
🇰🇿 Kazakhstan: Production Dropped by 7%
In September, production decreased to 765 million tons (1.92 million b/d) due to repairs at Karachaganak. Tengiz partially compensated — growth to 951,000 barrels/day.
🔥 RF: Four Refineries Attacked Overnight, Damage Reduced
Novak confirmed attacks on four refineries. Damage was reduced due to strengthened air defense. There is no diesel shortage, gasoline shortage is minor.
📊 US SPR — Lowest Since 1982
Stocks fell to 283.8 million barrels after the release of 40 million barrels.
