About this episode
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. Subscribe to Our Substack For Daily Insights Want to Add Oil & Gas To Your Portfolio? Fill Out Our Oil & Gas Portfolio Survey Need Power For Your Data Center, Hospital, or Business? Follow Stuart On LinkedIn: 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