Iraq Energy Police Director says a force is being formed to prevent oil smuggling, with measures being taken to protect pipelines
Newsquawk Staff ·
- Violations are not limited to crude oil pipelines
What it means
Anti-smuggling pronouncements from Iraqi energy security officials have a long history and a mixed record: similar task forces and pipeline-protection drives have been announced repeatedly over the years, typically after political pressure or a high-profile disruption, and enforcement has tended to fade once attention moves on. The supply channel that matters is twofold. On one side sits illicit crude and refined product moving through informal routes, much of it historically linked to cross-border flows and to the grey market in the north; on the other sits sabotage and theft from the pipeline network itself, which has periodically taken volumes offline. The remark that violations extend beyond crude pipelines points toward products and condensate rather than a headline crude disruption, which in past episodes has meant the marginal barrel at stake is regional and logistical rather than a shift in exportable supply. The distinction worth drawing is between enforcement that tightens the grey market, which marginally raises the cost of discounted barrels, and protection that prevents physical outages, which merely reduces tail risk rather than adding supply. Sustained follow-through has historically shown up in measurable export and refinery-feed data weeks later rather than at the announcement. As it stands this is an intent statement from a security official, not a supply event.
Sources
- Commerzbank still expects oil prices to fall further in 2027; European gas prices are unlikely to return to pre-war levels before a major LNG capacity expansion expected in H2'28
- Caspian Pipeline Consortium raises oil and gas condensate exports via the Black Sea by 6% M/M in October to 6.6mln tonnes, Reuters reports citing sources
- Yemeni drones attack Saudi Arabia's East-West oil pipeline, Press TV reports; Sabereen adds, potentially in relation to this, "Recording the disclosure report and on behalf of the committee: Three crude oil lines, and none of them have a problem."
- CRUDE WRAP: WTI (Z6) FUTURES SETTLE USD 2.21 HIGHER AT 88.74/BBL; BRENT (F7) SETTLES USD 3.06 HIGHER AT 95.82/BBL
- Goldman Sachs base case puts 2027 average Brent and European TTF natural gas prices at USD 88/bbl and EUR 45/MWh, respectively
Related headlines
- South African gas pipeline operator Rompco expects to finalise an agreement by January 2027 for a new LNG terminal involving Mozambique, Bloomberg reports2 hours ago
- Iranian Oil Minister says that the amount of gas lost by the South Pars platform has been compensated by other platforms; all the employees of the platform that was caught in the fire were rescued, will soon continue work on this platform4 hours ago
- US pressure has cut Cuba off from global oil supplies, forcing it to rely on US fuel, according to Wall Street Journal12 hours ago
- White House is set to expand its Jones Act waiver, extending the longest break in the maritime law's history as the Iran conflict drags on, sources tell Reuters.20 hours ago
- [MARKET ANALYSIS] Crude rangebound for the most part, but under pressure most recently; XAU awaits PPI2 hours ago
- EUROPEAN OPEN: CFR SW H1 op profit up sharply; BC8 GY raises EBT outlook; AMS SW Q3 revenue miss; BOSS GY appoints new CEO; STLAM IM faces potential Canada lawsuit; CARLB DC plans USD 600mln India IPO4 hours ago
- Newsquawk Daily Asia-Pac Opening News - 13th November 202615 hours ago
- PRIMER – Today’s Fedspeak includes: Goolsbee, Collins, Logan, Bowman, Daly, Jefferson26 min ago
- German Chancellor Merz says his message to the US before US President Trump meets Russian President Putin is ‘no surprises please’37 min ago
- Iran's Army says that a few hours ago, an "MQ1" drone of the American aggressor enemy was successfully intercepted and shot down2 hours ago
- [MARKET ANALYSIS] European bourses most lower, with Luxury hit after Richemont earnings3 hours ago
- The IAEA's is reportedly concerned that Iran has not let it examine information or inspect Isfahan uranium enrichment plant declared in June 20254 hours ago
- PRE-MARKET INDIAN STOCKS NEWS: Earnings updates from Oil India, Ola Electric & Vodafone Idea9 hours ago
- Trump administration spokesperson says President Trump's AI task force met on Thursday and discussed prior AI-powered cyber attacks10 hours ago
- [MARKET ANALYSIS] T-note futures remain lacklustre after the prior day's bear flattening10 hours ago