Timeline
OPEC+
Expanded oil alliance (~37% of output); Novak chaired its 67th quota-review meeting, 2 August.
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#171 12 Aug
Reported Iran's crude output flat against a 24 per cent shortfall
Iran Conflict 2026: Iran's wells flat as Iraq adds 665 tb/d#26 2 Aug
Met Novak separately across seven member states
Russia-Ukraine War 2026: Novak chairs OPEC+; diesel study waits#22 1 Aug
Confirmed a 188,000 b/d September adjustment for seven countries
European Oil Markets: OPEC release never mentions a pause#21 27 Jul
Reuters sources point to an OPEC+ pause
European Oil Markets#25 23 Jul
Mentioned in: Urals crude nearly triples in weeks
Russia-Ukraine War 2026#17 15 Jul
Trimmed 2026 demand growth to +0.8mbd, a fourth straight downgrade
European Oil Markets: OPEC cuts 2026 demand a fourth time#16 10 Jul
Referenced as the catalyst funds trimmed length into
European Oil Markets: Mentioned in: Funds cut crude length into the rally#149 8 Jul
Mentioned in: Brent jumps 6% as oil ends its shrug
Iran Conflict 2026#15 8 Jul
Lifted August supply the prior week
European Oil Markets: Hormuz risk lifts the Brent-Dubai EFS#14 6 Jul
Mentioned in: Urals stalls; the discount blows to $20
European Oil Markets#14 6 Jul
Confirmed the August hike whose signal moved into the spread rather than the flat price
European Oil Markets: Brent-WTI blows out as price sits still#14 5 Jul
Approved a 188,000 b/d hike for August, the fourth consecutive month at that pace
European Oil Markets: OPEC+ adds barrels it won't pump#13 3 Jul
Scheduled a Sunday vote on a further August output hike
European Oil Markets: OPEC+ weighs a fourth August hike#13 2 Jul
Anticipated Sunday supply catalyst
European Oil Markets: Mentioned in: Brent grinds to $70 into OPEC+ weekend#12 27 Jun
Mentioned in: WTI longs hold, Brent book stays thin
European Oil Markets#12 27 Jun
Mentioned in: RBOB longs build for driving season
European Oil Markets#135 22 Jun
Mentioned in: Brent falls through Trump's war talk
Iran Conflict 2026#9 17 Jun
Mentioned in: Brent hit a three-month low at $79
European Oil Markets#7 11 Jun
Mentioned in: Brent round-trips squeeze onto short base
European Oil Markets#8 11 Jun
Logged May output at 33.13mbd, down 185kbd, per the June MOMR
European Oil Markets: EIA and OPEC both cut 2026 demand#6 7 Jun
ratified 188kbd July output increase at 41st ministerial
European Oil Markets: OPEC adds 188kbd into 37-year output low#5 4 Jun
Prepared 188kbd July quota increase for 41st ministerial on 07 June
European Oil Markets: OPEC+ to vote barrels it can't pump#3 28 May
Mentioned in: Brent sub-$95 prices a different market
European Oil Markets#105 22 May
Mentioned in: Brent reprices around Khamenei's uranium directive
Iran Conflict 2026#2 15 May
Mentioned in: US draws 7.9mb, Fujairah rebuilds 96kbd
European Oil Markets#1 12 May
Mentioned in: WTI short, Brent long +58k contracts
European Oil Markets#1 12 May
Mentioned in: Druzhba south restart hands MOL $40 edge
European Oil Markets#94 11 May
Mentioned in: Brent breaks $101 Hormuz floor at $104.71
Iran Conflict 2026#95 11 May
Mentioned in: Aramco warns of a 17.5% shock
Iran Conflict 2026#94 10 May
Mentioned in: Iranian drones hit UAE, Kuwait, Qatar in one morning
Iran Conflict 2026#93 10 May
Mentioned in: Brent flat at $101.29; Hormuz floor holds
Iran Conflict 2026#92 8 May
Mentioned in: US gasoline hits $4.54 as Hormuz premium sticks
Iran Conflict 2026#89 4 May
Mentioned in: Brent's kinetic premium settles at $6.81
Iran Conflict 2026#1 3 May
Agreed 188kbd June 2026 production hike in virtual meeting
European Oil Markets: OPEC+ hike 188kbd, UAE out of the room#86 1 May
Mentioned in: Brent falls $14.83 in a session
Iran Conflict 2026#1 1 May
Mentioned in: EIA pencils Brent at $89 by Q4 2026
European Oil Markets#85 30 Apr
Mentioned in: OPEC+ Seven agree 206k bpd June increase
Iran Conflict 2026#84 30 Apr
Lost UAE membership effective 1 May alongside the OPEC withdrawal
Iran Conflict 2026: Brent settles at $123, new wartime high#85 30 Apr
Mentioned in: State launches MFC for Hormuz with no members
Iran Conflict 2026#83 28 Apr
Mentioned in: Brent hits $111.16, a new post-war high
Iran Conflict 2026#83 28 Apr
Faced simultaneous UAE withdrawal alongside OPEC exit
Iran Conflict 2026: UAE quits OPEC effective 1 May#80 25 Apr
Mentioned in: Brent settles $105.33, war's biggest week
Iran Conflict 2026#2 23 Apr
Mentioned in: EU maritime ban stays on the shelf
European Oil Markets#40 16 Mar