Market events calendar

OFAC revokes Iran oil export license, sets wind-down deadline for July 17

The US Treasury's OFAC revoked Iran General License X on July 7, 2026, replacing it with General License X1, a wind-down-only authorization. GL X1 permits completing transactions already begun under GL X but authorizes no new purchases or loadings on or after July 7, 2026, with wind-down activity to be completed by 12:01 am EDT on July 17, 2026 (about 07:31 Tehran time). GL X had originally authorized Iranian-origin crude oil, petrochemical and petroleum product sales through August 21, 2026.

Status:

Wind-down deadline reached on 2026-07-17; General License X fully revoked, no new transactions authorized under the prior license

As of Jul 17, 2026

OPEC Monthly Oil Market Report - July 2026 edition

OPEC published the July edition of its Monthly Oil Market Report (MOMR). The report cut the 2026 world oil demand growth forecast to about 780,000 barrels per day (from 970,000 bpd previously), a third consecutive monthly downgrade driven mainly by softer Chinese and Indian consumption. In the same report OPEC raised its 2027 demand growth forecast to roughly 1.94 million barrels per day. Global oil demand is the single most Iran-relevant external variable for the country's oil revenue.

oil demand growth 2026:

+0.78 mb/d

previous 2026 forecast:

+0.97 mb/d

+1 more

As of Jul 13, 2026

IEA Oil Market Report - July 2026 edition

The International Energy Agency (IEA) released its monthly Oil Market Report on July 10, 2026. Global oil supply rebounded to 98.8 mb/d in June, and Dated Brent crude, which had fallen to around $68/bbl in June, climbed back to roughly $77/bbl after hostilities resumed on July 7-8. The agency forecasts a full-year 2026 demand decline of about 1 mb/d, followed by 2027 growth of around 2 mb/d.

Status:

released

dated crude price:

about $77/bbl (after rising from ~$68/bbl in June)

+3 more

As of Jul 10, 2026

OPEC+ voluntary producers monthly meeting - July 2026

The seven OPEC+ voluntary-adjustment producers (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, Oman) hold their monthly online meeting on July 5, 2026, to review market conditions and production levels. Decisions from this meeting affect global oil prices and Iran's export revenues.