Market events calendar

Panama Canal Cuts Daily Ship Transit Cap Ahead of El Nino Drought

Update: as of September 4, 2026, the Panama Canal daily transit cap fell to 34 vessels, as previously announced.

Status

in effect

Daily transit cap

34 vessels/day

As of Sep 4, 2026

Russian producers exempted from diesel and marine fuel export curbs (1 September 2026)

Under a decision the Russian government announced on 30 July 2026 (8 Mordad 1405), producers are exempted from the diesel, marine fuel and gasoil export restrictions from 1 September 2026 (10 Shahrivar 1405). The exemption is part of the same package that extended the gasoline and diesel export ban to 31 January 2027. This entry records the date the exemption takes effect.

Status

اجرایی شد

As of Sep 1, 2026

OPEC Monthly Oil Market Report - August 2026 edition

OPEC's August 2026 Monthly Oil Market Report, released Wednesday, August 12, 2026, cut its forecast for 2026 global oil demand growth to 580,000 barrels per day from a July estimate of 780,000 bpd. The downgrade came alongside a similar cut by the International Energy Agency, both citing the continued closure of the Strait of Hormuz.

2026 oil demand growth forecast

580,000 bpd

Previous forecast (July)

780,000 bpd

As of Aug 12, 2026

EIA Weekly Petroleum Status Report - 12 August 2026

The US Energy Information Administration's Weekly Petroleum Status Report for the week ending August 7, 2026 showed a surprise 17.4 million barrel build in US crude inventories, bringing stockpiles to 424.4 million barrels, just 2 percent below the five-year average.

US crude inventory change

+17.4 million bbl

US crude stock level

424.4 million bbl

As of Aug 12, 2026

IEA Oil Market Report - August 2026 edition

The IEA released its monthly Oil Market Report on August 12, 2026, covering global oil supply, demand, and inventories. The agency revised its 2026 global demand decline forecast to 1.6 million barrels a day, 510,000 barrels a day steeper than its July estimate, citing deepening effects from the Strait of Hormuz closure. Global observed oil inventories fell below 7.9 billion barrels in July for the first time since April 2025.

Revised 2026 global oil demand decline forecast

کاهش ۱.۶ میلیون بشکه در روز

Previous forecast (July report)

کاهش ۱.۱ میلیون بشکه در روز

+2 more

As of Aug 12, 2026

EIA Weekly Petroleum Status Report - 5 August 2026

EIA's Weekly Petroleum Status Report, published Wednesday 5 August 2026 at 18:00 Tehran time, showed US crude inventories rose 2.479 million barrels to 407 million barrels for the week ending 31 July 2026, versus a forecast 1.5 million barrel draw. Gasoline stocks fell 1.643 million barrels and distillates fell 3.473 million barrels the same week.

Actual

+2.479 million bbl (crude stocks)

Forecast

-1.5 million bbl (crude stocks)

+2 more

As of Aug 5, 2026

67th OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting

The 67th meeting of the OPEC+ Joint Ministerial Monitoring Committee was held by videoconference on August 2, 2026. Its members are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela. The committee reviewed crude production data for May and June 2026, noted overall conformity among participating countries, and expressed concern over attacks on energy infrastructure and their effect on overall supply availability.

Status

Held 2 August 2026 by videoconference; reviewed May and June 2026 crude production data and noted overall conformity

next meeting

4 October 2026

As of Aug 2, 2026

OPEC+ voluntary producers monthly meeting - August 2026

Seven OPEC+ members (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) met online on August 2, 2026 to set September 2026 output. They agreed to unwind a further 188,000 barrels per day of the 1.65 million barrel per day voluntary cut announced in April 2023, effective in September. The next meeting is set for September 6, 2026.

Actual

188,000 b/d increase for September 2026

Previous

188,000 b/d increase for August 2026

+2 more

As of Aug 2, 2026

Iraq and Turkiye sign one-year Ceyhan crude pipeline transport agreement

Iraq's oil minister signed a one-year agreement with the Turkish side on 1 August 2026 (10 Mordad 1405), setting a minimum crude transport rate of 750,000 barrels per day through the Iraq to Turkiye pipeline to the Port of Ceyhan. Iraq's prime minister said the same day that Iraqi and Turkish companies would begin operations under the deal. It stands until a wider framework covering oil, electricity and water is completed.

Status

signed

Volume

750,000 bpd minimum transport rate

+4 more

As of Aug 1, 2026

OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting - July 2026

The OPEC+ Joint Ministerial Monitoring Committee, which reviews members' compliance with production agreements but holds no authority to set output quotas itself, convened on 28 July 2026. Ahead of the meeting the OPEC Secretariat stated that the committee does not hold decision-making authority over production levels and that its role is limited to reviewing conformity. The next OPEC+ producers' meeting is scheduled for 2 August 2026.

Status

Convened 28 July 2026; no production-level decision issued

Reason

The JMMC reviews members' conformity with production agreements and holds no authority to set output levels, as the OPEC Secretariat stated ahead of the meeting

+1 more

As of Jul 29, 2026

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.