AGP Executive Report
Last update: 7 hours agoHormuz and Oil: Iran says it could reopen the Strait within two days if Washington accepts its conditions, as Qatar-mediated talks continue. Brent fell more than 4% on Monday to about $109 a barrel on hopes of progress, but tanker attacks—including a reported strike on a Qatari LNG carrier—keep supply risks high. Gulf Supply: The UAE plans to protect energy infrastructure and expand export routes, overseas storage and shipping capacity. ADNOC’s chief says the disruption has drained nearly 1 billion barrels from global oil stocks. Kuwait raised October output to 2.1 million barrels a day, while OPEC+ kept December targets unchanged for a third month. Investment and Technology: At ADIPEC in Abu Dhabi, ADNOC announced an OpenAI and G42 partnership to deploy AI across its operations. An Abu Dhabi royal family office also launched an LNG fund targeting an initial $1.2 billion close.
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