In this episode of Energy Newsbeat Daily Standup, Stuart Turley and Michael Tanner break down OPEC+’s shrinking spare capacity, warning that oil prices could spike as the group nears its production limits. They discuss Saudi Arabia’s aging fields, pressure depletion, and the difficulty of restarting shut-in wells. The segment also covers ExxonMobil’s potential return to Iraq’s Majnoon oil field, China’s plan to build 11 new oil storage sites, and the U.S. receiving its first tungsten shipment from Rwanda—marking a move to bypass China in critical minerals. Finally, they highlight President Trump’s approval of a new 211-mile road to Alaska’s Ambler Mining District and Shell’s $600 million hit from canceling its Rotterdam biofuels project, underscoring the contrast between fossil energy resilience and renewable setbacks.
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https://www.linkedin.com/in/stuturley/ and
Twitter: https://twitter.com/STUARTTURLEY16
Follow Michael On LinkedIn: https://www.linkedin.com/in/michaelta... and
Twitter: https://twitter.com/mtanner_1
Timestamps:
00:00 - Intro
00:14 - OPEC+ Has Come Close to Its Limit, Leaving Prices Open to Spike
04:53 - Exxon Considers Return to Iraq: A Potential Re-Entry into the Majnoon Oil Field
06:30 - China to Build 11 New Oil Storage Sites in 2 Years
08:41 - The United States Has Begun Receiving Shipments of Tungsten, Straight from Rwanda, Bypassing China
11:13 - President Trump Approves a 211-Mile Road to Alaska’s Ambler Mining District
16:14 - Markets Update
17:52 - Shell’s Q3 Profit Soars on Strong Trading and Production
18:25 - Shell to Take $600 Million Hit from Scrapped Rotterdam Biofuels Project
21:59 - Outro
Links to articles discussed:
OPEC+ Has Come Close to Its Limit, Leaving Prices Open to Spike
Exxon Considers Return to Iraq: A Potential Re-Entry into the Majnoon Oil Field
China to Build 11 New Oil Storage Sites in 2 Years
The United States Has Begun Receiving Shipments of Tungsten, Straight from Rwanda, Bypassing China
President Trump Approves a 211-Mile Road to Alaska’s Ambler Mining District
Shell’s Q3 Profit Soars on Strong Trading and Production
Shell to Take $600 Million Hit from Scrapped Rotterdam Biofuels Project
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