London, September 12, 2025, (Oilandgaspress) –––Oil markets are being pulled in different directions by a range of forces, with the potential for supply losses stemming from new sanctions on Russia and Iran coming against a backdrop of higher OPEC+ supply and the prospect of increasingly bloated oil balances. China continues to stockpile crude oil, helping keep Brent crude futures in slight backwardation. Prices moved in a narrow band since August and at the time of writing Brent was $67/bbl, largely unchanged from a month earlier.
Toughened sanctions on Iran and Russia have so far had a relatively modest impact on supply and trade flows, even as exports from both countries have been trending lower in recent months. The EU ban on imports of refined products derived from Russian crude oil from the start of 2026 may yet curb output and upend trade patterns in the coming months.
Oil prices were little changed after OPEC+ agreed on 7 September to start unwinding its second tranche of supply cuts, in place since April 2023. The Group of Eight OPEC+ countries plans to raise its output target by 137 kb/d in October. If continued at this pace, lifting the full 1.65 mb/d tranche of cuts would take 12 months, leaving the 22-member alliance with 2 mb/d of supply cuts still in place.
The actual supply boost in October will be less than the target increase, as Iraq, the UAE, Kuwait and Kazakhstan already pump 1.1 mb/d above their quotas, while others, including Russia, are bumping up against capacity constraints, according to our estimates. As of September, OPEC+ will have ramped up actual crude output by 1.5 mb/d since 1Q25, well below the announced target of 2.5 mb/d. The biggest increase has come from Saudi Arabia and other core Middle Eastern producers. However, tanker tracking data indicate that the majority of the additional volumes have been absorbed by regional refinery activity and power generation use rather than exported out of the region.
Non-OPEC+ oil supply growth continues apace, with output from the United States, Brazil, Canada, Guyana and Argentina at or near all-time highs. Non-OPEC+ producers are now on track to boost production by 1.4 mb/d in 2025 and by just over 1 mb/d next year. OPEC+ is currently expected to add 1.3 mb/d in 2025 and 1 mb/d next year, on a par with non-OPEC+. The global oil demand outlook remains largely unchanged, with growth of around 700 kb/d expected for both 2025 and 2026. Oil demand typically declines by around 1 mb/d from its summer peak through to the end of the year, while refinery activity slumps by 3.5 mb/d from August to October.. Read More
OPEC made no changes on Thursday to its relatively high global oil demand growth forecasts for this year and next, and said the world economy was maintaining a solid growth trend in the second half of this year.
The upbeat OPEC outlook, in a monthly report, follows the decision of the wider OPEC+ producer group on Sunday to further raise its oil output quotas from October as its leader Saudi Arabia pushes to regain market share..(Reuters) Read More
Bentley’s expanded Heritage Collection has scored three special results over a busy summer of activities, supporting Bentley’s presence across some of the biggest live events of the automotive calendar. Two class wins and a “first ever” mark the recent completion of the task to rebuild the Collection, which now stands at 50 cars from across 106 years of Bentley history – 40 driveable, road-legal road cars and 10 ready-to-run racing machines.
While Bentley’s new EXP 15 design vision concept car was resplendent on the Concept Lawn at this year’s Pebble Beach Concours d’Elegance, on the main show field the one-of-one 1939 Mk V Corniche was becoming the first ever manufacturer-entered car to be fully judged in the event’s 75 year history. Reborn over the course of a 15+ year project, initially by a team of dedicated Derby-era Bentley enthusiasts and the Rolls Royce Heritage Trust before being completed with the assistance of Mulliner, the Corniche has recently been re-registered on its original number plate – GRA 270 – and successfully completed the ‘Tour d’Elegance’ drive along the Monterey coastline ahead of the Concours. . Read More
Joby Aviation, Inc. announced a first-of-its-kind demonstration of its autonomous flight technology. As part of the Resolute Force Pacific (REFORPAC), a Department-Level Exercise led by Pacific Air Forces (PACAF), Joby conducted a successful demonstration and validation of its SuperpilotTM autonomous flight technology over the Pacific Ocean and Hawaii, logging more than 7,000 miles of autonomous operations across more than 40 flight hours.
The autonomous flights were managed from ground control stations at various locations throughout the exercise, primarily from more than 3,000 miles away at Andersen Air Force Base in Guam. A safety pilot was also onboard the aircraft to monitor the system’s performance. As part of Joby’s long-term strategy to develop dual-use technologies, Superpilot showcased its ability to provide an autonomous solution for the U.S. government’s urgent need for light intra-theater airlift.
The Department of Defense has requested $9.4 billion in its FY26 budget to advance autonomous and hybrid aircraft. The successful REFORPAC exercise positions Joby to compete for upcoming Department of Defense programs. In addition, the work with defense partners can inform integration of autonomous capabilities into Joby’s commercial air taxi platform. Read More
NMDC Group PJSC and ADNOC L&S announced a three-year agreement to explore collaboration on delivering maritime services for offshore projects. The agreement was signed by Engineer Yasser Zaghloul, Group CEO of NMDC Group, and Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, at NMDC’s headquarters in Abu Dhabi.
This agreement strengthens the long-standing partnership between NMDC and ADNOC L&S, establishing an expanded framework for continued collaboration on offshore EPC projects in Abu Dhabi. It includes provisions for marine services and integrated logistics, reinforcing both companies’ commitment to supporting the emirate’s offshore energy sector.. Read More
INPEX Corporation (INPEX), Osaka Gas Co., Ltd. (Osaka Gas), and Mitsubishi Heavy Industries, Ltd. (MHI) announced an agreement to implement the city gas industry’s first system for transfer and management of Clean Gas Certificates to certify the environmental value(2) of e-methane, which is being developed by Osaka Gas and MHI using the CO2NNEX®(1) digital platform, for a project being jointly conducted by INPEX and Osaka Gas aimed at developing practical technology for the reduction and effective utilization of CO2 emissions by using one of the world’s largest methanation systems (hereinafter, the “Nagaoka Methanation Demonstration”)(3).
In the Nagaoka Methanation Demonstration, hydrogen (H2) and CO2 recovered from the Koshijihara Plant at the INPEX Nagaoka Field Office (Nagaoka City, Niigata Prefecture) will be used to produce e-methane, which will be injected into INPEX’s natural gas pipeline and delivered to customers in an effort to build a model for local production and local consumption, planned to be implemented as part of the Nagaoka Methanation Demonstration. The CO2NNEX® platform will be used to provide visualization of e-methane and its raw materials (H2 and CO2) (hereinafter “attribute data”), and manage the transfer and use of Clean Gas Certificates created through the demonstration. In addition, by utilizing the MRV function(4) to monitor and graph attribute data, issue Clean Gas Certificate usage certificates, and verify the appropriate use of certificates, the companies will contribute to the practical application of the CO2 methanation system in the Nagaoka Methanation Demonstration. Read More
In a series of meetings, US Ambassador Tilman Fertitta, US Secretary of Interior and Chair of the National Energy Dominance Council, Doug Burgum, and US Secretary of Energy, Chris Wright, met with Eni CEO, Claudio Descalzi, for an update on Eni’s activities with US partners and to share views on international energy scenarios. The parties reiterated their mutual satisfaction with the agreement announced in July between Eni and Venture Global for the long-term supply of American LNG, which will allow Eni to further expand and diversify its gas portfolio to the benefit of Europe’s security of supply. The agreement was also celebrated at Gastech, the global gas conference taking place in Milan during the meeting between Guido Brusco, Eni’s COO, Global Natural Resources, and Michael Sabel, Venture Global CEO.
Descalzi described the growing importance of the United States as a reference country for Eni’s activities and investments, and recalled the several strategic partnerships with leading US investors that have joined Eni in its distinctive satellite model, across the energy value chain, with Plenitude, Enilive and Eni CCUS Holding. Read More
Subsea 7 S.A. published further information in relation to the extraordinary general meeting of shareholders of the Company to be held on 25 September 2025 (the EGM), the purpose of which is to consider the proposed combination between Subsea7 and Saipem.
In accordance with article 1025-10(1) of the Luxembourg law of 10 August 1915 on commercial companies, as amended (the Luxembourg Company Law), shareholders of Subsea7 who vote against the approval of the common merger plan at the EGM will have the right to dispose of their eligible shares for an adequate cash compensation (the Withdrawal Cash Compensation) under the conditions set out in the Luxembourg Company Law and which are summarised in the convening notice for the EGM. It is now confirmed that in accordance with the Luxembourg Company Law the Withdrawal Cash Compensation has been calculated as NOK 135.51 per share.
The withdrawal documentation including forms of withdrawal declaration, proxy for the exercise of the withdrawal right, instructions letter to financial intermediaries/VPS account operators and certificate of confirmations and instructions to DNB Bank ASA can be found on the Company’s website. Read More
Woodside and the North West Shelf Joint Venture welcome the Australian Government’s final decision to grant environmental approval for the North West Shelf Project Extension. Woodside Executive Vice President and Chief Operating Officer Australia Liz Westcott said the final Australian
Government approval followed an extensive assessment and appeal process and included rigorous conditions to manage the protection of cultural heritage. “This final approval provides certainty for the ongoing operation of the North West Shelf Project, so it can continue to provide reliable energy supplies as it has for more than 40 years. “Over this time, the North West Shelf Project has paid more than A$40 billion in royalties and excise, supported thousands of Australian jobs and contributed well over A$300 million to communities in the Pilbara through social investment initiatives and infrastructure support.”
The Australian Government approval includes conditions that require additional monitoring and management of air emissions to protect the Dampier Archipelago (including Burrup Peninsula) National Heritage Place. Woodside remains committed to protecting the Murujuga Cultural Landscape and was a proud supporter of the World Heritage nomination and assessment process.
The North West Shelf Project has supplied more than 6,000 petajoules of domestic gas, powering homes and industry in Western Australia. If used just for household electricity, this is enough to power homes in a city the size of Perth for approximately 175 years. Read More
Under the direction of Michael Mauer, Volkswagen Group Design has worked with the design managers of the ten brands to sharpen the respective design criteria. A structuring model based on the archetype concept of the Swiss psychoanalyst Carl Jung was used. Hero, rebel and creator symbolise Porsche’s design identity. Together with the keywords Focus, Tension and Purpose, they pointedly describe the brand personality and serve as a compass throughout the company. The sharpened design criteria are made tangible by the example of the new 911 Turbo S. Read More
Curvistan Bangkok – a creative hub celebrating automotive culture and design – is unveiling a new special exhibition called Raceborn. At the heart of the showcase is a true motorsport legend: the Porsche 956 LH, which has been transported all the way from the Porsche Museum in Stuttgart to Thailand. Founded in 2024 by Stefan Bogner, creator of Curves magazine, and Chanond Ruangkritya, a Thai real estate developer and Porsche collector, Curvistan Bangkok has quickly become a cultural hotspot in the region. Located in the vibrant Thong Lo district, the venue combines a gallery, café and experience space for automotive and design enthusiasts. With support from Porsche Asia Pacific, Curvistan has established itself as a unique destination in Southeast Asia. The new exhibition, Raceborn, celebrates Porsche as a brand born on the racetrack – with a centerpiece that embodies this spirit: the Porsche 956 LH, bearing the starting number one. It is there on special loan from the Porsche Museum in Stuttgart, exclusively for the exhibition. This exact car was driven by Jacky Ickx and Derek Bell to a commanding victory at the 1982 24 Hours of Le Mans, marking the dawn of the Group C era. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $63.39 | Up |
| Crude Oil (Brent) | USD/bbl | $67.53 | Up |
| Bonny Light 09/09/25 CBN | USD/bbl | $68.56 | — |
| Dubai | USD/bbl | $69.85 | Up |
| Natural Gas | USD/MMBtu | $2.98 | Down |
| Murban | USD/bbl | $71.25 | Up |
| OPEC basket 11/09/25 | USD/bbl | $70.49 | Up |
| At press time September 12, 2025 |
World oil demand is forecast to increase by 740 kb/d y-o-y in 2025, up marginally from last month’s Report, with resilient deliveries in advanced economies contrasting with relatively muted consumption in emerging economies. OECD demand growth of 80 kb/d y-o-y in 1H25 has exceeded expectations, supported by lower oil prices, but is forecast to move into contraction in the remainder of the year, leaving 2025 annual oil use broadly flat. Read More
Hidden design elements and unexpected inspirations – the all-new Nissan LEAF
Debuting in 2010 as the world’s first mass-market EV, the Nissan LEAF signaled a cultural shift on the horizon, one that would have drivers trade the gas pump for a plug and welcome a new, tech-savvy lifestyle. Making its full reveal in June 2025, the all-new LEAF marks a bold evolution of the groundbreaking nameplate. It’s the latest in Nissan’s electric line-up and the world’s first 3rd generation EV. Engineers pulled from 15 years of real-world insights and over 28 billion kilometers (17.4 billion miles) driven to maximize efficiency and range.
Join us as we explore how Nissan designers and engineers considered the impact of EVs, blending Japanese motifs, subtle design cues and optimized efficiency at every opportunity to bring the latest LEAF to life. . Read More
Vestas is proud to announce the following orders as part of our Q3 order intake:
| Country | Region | Customer | Project name | MW | Turbine varaint | Service agreement | Delivery & commissioning |
| Argentina | Americas | Undisclosed | Undisclosed | 186 | V162 6.4 MW | 25-year AOM5000 Service Agreement | Delivery and commissioning are planned for 2026 |
| Argentina | Americas | Undisclosed | Undisclosed | 31 | V162 6.2 MW | 25-year AOM5000 Service Agreement | Delivery is planned for 2026 and commissioning for 2027 |
Daimler Truck officially opened the Mercedes-Benz Commercial Vehicle Center Munich Aschheim
With the opening, the company is sending a strong signal for the future of transportation and the service business: The new location for trucks, buses, and vans is tailor-made for the requirements of commercial and fleet customers in the Munich metropolitan region and has been designed from the outset for commercial vehicles powered by alternative drive technologies.
Covering a site area of around 44,500 square meters in Aschheim near Munich, the center will offer sales and service for Mercedes-Benz and FUSO trucks, as well as service for Mercedes-Benz and Setra buses and Mercedes-Benz vans. The new commercial vehicle center on Klausnerstraße will also be a central point of contact for the financial services business of Daimler Truck Financial Services Deutschland (DTFSD). Commercial and fleet customers will find tailor-made offers for truck hire purchase or leasing, including service contracts and insurance. Solutions for the charging infrastructure will also be offered. Together with CharterWay GmbH, the location offers a flexible mobility concept with rental and financing solutions from a single source. Read More
Daimler Buses is expanding its production capacity through a cooperation agreement with Otokar Otomotiv ve Savunma Sanayi A.Ş. Starting from September 2026, the Turkish bus manufacturer Otokar will produce the conventionally powered Mercedes‑Benz Conecto city bus for Daimler Buses at its plant in Sakarya, Türkiye. The rationale for this contract manufacturing arrangement is the strong demand for buses of the Mercedes-Benz and Setra brands. Until now, the Mercedes‑Benz Conecto has been exclusively manufactured at Daimler Buses’ Turkish plant in Hoşdere; it is designed for economical operation and optimized operating costs. Till Oberwörder, CEO of Daimler Buses, Süer Ismail Sülün, President & CEO of Mercedes-Benz Türk A.Ş., and Aykut Özüner, CEO of Otokar, signed the agreement today in Sakarya.. Read More
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
“Stay informed with Oilandgaspress.com—your independent source for global energy, oil, gas, EV, and automotive industry news and analysis.”
Submit your Releases or contact us now!, victor@oilandgaspress
Follow us: on Twitter | Instagram
Your Daily Source for Oil, Gas, Renewables & EV Market Insights :
latest oil and gas updates
