OPEC+ announces sharp increase in July oil production
Saudi Arabia, Russia, and the six other OPEC+ members announced on Saturday a huge increase in crude production for July.
They will produce 411,000 barrels a day — the same amount as in May and June — according to a statement, which is more than three times the group had previously planned.
AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
LBCI
8 hours ago
- LBCI
Years of support on the line: President Aoun's visit to Iraq deepens ties, thanks Baghdad for vital help
Report by Yazbek Wehbe, English adaptation by Karine Keuchkerian President Joseph Aoun sought to make a special visit to Iraq soon after arriving at the presidential palace, aware of the strong support Iraq has provided Lebanon in recent years. During his meeting with Iraqi President Abdul Latif Rashid, President Aoun expressed Lebanon's gratitude to Iraq for its support during difficult times, whether by hosting displaced people and later facilitating their return or through oil shipments necessary for electricity and energy. President Aoun also highlighted the numerous challenges, especially in the fight against terrorism, which both sides continuously coordinate on. The Iraqi president confirmed readiness to cooperate with Lebanon in all fields, wishing President Aoun success amid positive developments in the country. Relations between the two countries date back to Lebanon's independence and have been largely stable. The first agreement between them was signed in 1951. Iraq has been Lebanon's largest importer over the past decade, reaching $125 million in 2021. Without Iraq, Lebanon would not have enjoyed electricity in recent years. Since 2021, Iraq has provided fuel valued at more than $1.2 billion. The platform for payments to Iraq — through selling agricultural and industrial products and services in exchange for these funds — has not yet been completed. During his meeting with President Aoun, Iraqi Prime Minister Mohammed Shia al-Sudani pledged noninterference in Lebanon's internal affairs, condemned Israel's continued violation of international law, and called on the world to apply United Nations Security Council Resolution 1701 without selectivity. President Aoun emphasized the importance of the conference called by France and Saudi Arabia in New York to discuss establishing an independent Palestinian state within a just and comprehensive peace. He drew inspiration from Iraq's top Shiite cleric, Ali al-Sistani, in resolving regional crises. Iraq aims to revive the oil pipeline from Kirkuk to Beddaoui, inactive for half a century, and to rehabilitate the existing refinery so refined Iraqi oil on the Mediterranean coast can be exported to Europe and beyond. Lebanon expressed its support for this.
LBCI
11 hours ago
- LBCI
Morgan Ortagus, key figure on Lebanon's file, may step down as US deputy envoy to the Mideast — what we know
Report by Toni Mrad, English adaptation by Karine Keuchkerian In January 2025, U.S. President Donald Trump appointed Morgan Ortagus as Deputy Special Envoy for the Middle East. Despite the appointment, Trump's announcement carried a tone of implicit skepticism and a lack of enthusiasm, reflecting personal reservations about the decision—even as Ortagus enjoyed "strong Republican support." In addition to her regional responsibilities, Ortagus was tasked with overseeing the Lebanon file and made two official visits to Beirut. During her first visit in February 2025, Ortagus met with Lebanese officials and said at a news conference that the United States had drawn a "red line" against Hezbollah's participation in the Lebanese government. She claimed that Hezbollah had been militarily defeated and should play no role in any future cabinet. In her second round of talks in April, Ortagus reiterated the urgent need to disarm Hezbollah and all other armed groups in Lebanon. A third visit to Lebanon had been expected in the coming days, but media reports now indicate that Ortagus will soon step down as part of broader changes within Trump's foreign policy team. She is reportedly being reassigned to another post within the administration. Although she had expressed interest in becoming the special envoy to Syria, the role was instead given to Thomas Barrack. The White House has not confirmed the change. Israel's Channel 14 reported that Ortagus' departure is "not good news" for Israel, citing her strong support for efforts to disarm Hezbollah.
LBCI
12 hours ago
- LBCI
President Joseph Aoun meets Iraq's president in Baghdad visit
Lebanese President Joseph Aoun met with his Iraqi counterpart Abdul Latif Rashid on Sunday at the presidential palace in Baghdad, shortly after arriving in the Iraqi capital. Aoun's visit, described as reflecting the 'deep historical brotherly ties' between Lebanon and Iraq, aims to bolster bilateral cooperation. 'This visit embodies our shared commitment to strengthening coordination across various fields,' Aoun said. 'It is also an opportunity to thank the Iraqi leadership and people for their continued support to Lebanon.' He also expressed appreciation for Iraq's fuel shipments to Lebanon during its economic crisis, calling them 'a sincere expression of Arab brotherhood and solidarity.'
