Salma Elwardany

5 things that happened this week: Oil has fallen to $71, its lowest level since 2022 OPEC+ decision to delay its supply hikes by 2 months had little impact Key concern: fragile demand 1/5 bloomberg.com/news/articles/…

REACTION COLUMN: The OPEC+ oil cartel has delayed a planned output hike by two months. It's the bare minimum to support prices. But looking at the 2025 balance of supply and demand, OPEC+ is simply kicking the can down a very uphill road. @Opinion #OOTT bloomberg.com/opinion/articl…

BREAKING: OPEC+ has reached an agreement to pause its planned oil output hike for Oct-Nov, according to a delegate familiar with the talks -- via @S_Elwardany #OOTT

OPEC+ has reached an agreement to pause its planned oil output hike for two months, according to a delegate familiar with the talks trib.al/4EfT7lp

*OPEC+ HAS AN AGREEMENT ON OIL SUPPLY: DELEGATE *OPEC+ HAS DEAL TO PAUSE PLANNED INCREASE IN OIL SUPPLY *OPEC+ HAS DEAL TO PAUSE PLANNED OIL HIKE FOR 2 MONTHS: DELEGATE -- BBG

At least three vessels have loaded at Es Sider since that date, tanker-tracking data show. Separately, two ships each have taken on cargoes at Mellitah and Zueitina. The ports of Brega, Bouri, Hariga and Ras Lanuf have each seen at least one cargo

In the absence of a force majeure declaration by the state-run National Oil Corp. the situation also remains ambiguous at the five eastern export terminals. Lifters are going ahead with their loading plans, as they haven’t been officially notified to cancel their cargoes

At least 11 tankers have loaded after Aug. 26, when authorities in the eastern part of the country vowed to shut down all production and exports, tanker-tracking data compiled by Bloomberg show. Officials subsequently said loading was halted at the eastern ports of Brega, Es Sider, Hariga, Ras Lanuf and Zueitina, but oil is still loading from these ports. Those vessels should be carrying about 7 million barrels, if their cargoes match those on loading programs seen by Bloomberg, though its not clear how full they were when they loaded. Still, tracking data suggests a significant slowdown in exports in recent days.

Our story on the political crisis in Libya and the standoff inside the central bank, which manages billions of dollars in oil wealth. bloomberg.com/news/articles/…

Libya's oil exports are (well) down but not out. If they can do a quick deal, maybe they can avert the kind of crisis that has long beset the country. bloomberg.com/news/articles/… via @markets

Big news in #oil. #SaudiArabia's govt orders #Aramco to stop raising crude production capacity to 13m b/d from 12m by 2027. Why? Unclear. To cut capex with the company paying much higher divs to the govt? The kingdom changing its outlook on demand? bloomberg.com/news/articles/…

“The Palestinian cause has long struck a chord in South Africa, where many draw parallels between Israel’s occupation and apartheid, the system of institutionalized racial segregation that ended in the early 1990s.”

South Africa claims the moral high ground in its case against Israel at the International Court of Justice trib.al/pXE1B7J

A Conversation About Middle East Boycotts Hitting Global Brands omny.fm/shows/bloomber… Listen to @LeenAlRashdan and @S_Elwardany on their story out today bloomberg.com/news/features/…

Here's the story in print Many consumers in the Middle East are shunning foreign brands -- like Starbucks, Coke and McDonald's -- as the repercussions from the Israel-Hamas war continue to spread. It's a boon for local rivals bloomberg.com/news/features/…

A Conversation About Middle East Boycotts Hitting Global Brands omny.fm/shows/bloomber… | @S_Elwardany and @LeenAlRashdan

Iran foreign minister calls Muslim countries to impose an oil embargo on Israel. Statement here t.me/MFAIran/16479 and translation of key paragraph below Oil market is rallying now well above $90 a barrel, but I don’t see anyone else at OPEC+ endorsing the call | #OOTT

JUST IN: Oil jumps as Iran calls for an embargo against Israel by Muslim countries, following a deadly explosion at a Gaza hospital trib.al/FRYOUht

Trucks carrying aid from Egypt were unable to cross into Gaza Tuesday to supply Palestinians running out of water, medicine and food supplies ahead of a widely expected Israeli ground invasion against Hamas trib.al/dp48bcT

Any person can see that ordering 1+ million people to move in under 24 hours is not possible. It is unacceptable. The UN has already deemed the order “impossible” without “devastating humanitarian consequences.” Humanity is at stake. Nearly half are children. We must halt this