The United States is preparing plans to send troops to Mexico for an anti-drug trafficking operation, NBC News reported on Monday. The mission is still allegedly in the early stages, which involve training and outlining its scope. According to unnamed current and former US officials, the military would “mainly use drone strikes to hit drug labs and cartel members and leaders,” supported by intelligence officers, and its actions would not be revealed to the public. The sources added that the mission would not work against the Mexican government.
OPEC chief sees 1.3M bpd demand rise in 2025
OPEC Secretary-General Haitham Al-Ghais (pictured) revealed on Monday that global oil demand is expected to grow by 1.3 million barrels per day in 2025. Speaking at the ADIPEC energy conference in Abu Dhabi, he stressed that OPEC has been “consistently and regularly” returning barrels to the market to maintain stability. The statement comes a day after OPEC+ agreed at its Sunday meeting to raise total oil output by 137,000 barrels per day, with production increments set to pause after December through March 2026. Al-Ghais noted the group continues to see “good signs for demand” and does not anticipate major surprises ahead. “The demand for oil and gas is here to stay,” he emphasized, noting that OPEC retains the flexibility to alter, pause, or reverse its production decisions when necessary.
NN: The demise of OPEC AND CRASH IN OIL PRICES is greatly exaggerated
OPEC+ to Pause Output Hikes After Small December Increase
OPEC+ agreed to make another small output increase in December but will pause further hikes for the following three months, as the group balances its push for market share against signs of an emerging supply glut. Key members led by Saudi Arabia agreed during a video conference on Sunday to revive about 137,000 barrels a day next month as expected, matching increases scheduled for October and November. However, the group announced it will hold off on further increases during January to March. The proposal was raised to account for weaker seasonal demand, according to a delegate The Organization of the Petroleum Exporting Countries and its partners have been drip-feeding the return of 1.65 million barrels a day halted two years ago, after rapidly restarting another layer of production earlier this year. However, signs have been mounting that a long-awaited surplus is emerging, amid warnings of a bigger glut next year. The meeting also takes place against a backdrop of increased pressure on Russia, the co-leader of the alliance, after the US sanctioned its two largest oil producers last month in a major escalation. While the move helped support prices after they dropped to a five-month low, one delegate said earlier that it’s too early for OPEC+ to gauge the overall market impact of the measures. Meanwhile, Saudi Crown Prince Mohammed bin Salman heads later this month to Washington to meet President Donald Trump, who has repeatedly called on OPEC to help bring down fuel prices. OPEC+’s actual output increases have fallen significantly short of the advertised volumes, as some members offset earlier overproduction and others struggle to pump more, limiting the impact on the market. OPEC+ has repeatedly said that its decision to revive production this year — despite industry-wide warnings of a price slump — has been driven by “healthy market fundamentals” and low inventory levels. The resilience of prices for much of the year, even as the group restored a 2.2 million-barrel supply tranche a year early, partly validated its stance. Yet there are increasing signs that, with demand in top consumer China cooling and supply across the Americas booming, the world market is now tipping into oversupply. Top trading houses like Trafigura Group say the excess has arrived, pointing to an accumulation of barrels on the world’s tanker fleet. The International Energy Agency in Paris predicts that world supplies could exceed demand this quarter by more 3 million barrels a day, and then balloon to an unprecedented glut next year, at least on paper. JPMorgan Chase & Co. and Goldman Sachs Group Inc. forecast further price losses below $60 per barrel. The market downturn is inevitably taking a toll on oil producers such as America’s shale drillers. While the US remains the biggest source of supply growth this year, it’s projected to stall in 2026, and shale executives have warned that as investment ebbs, the industry is hitting a “tipping point.” Saudi Arabia’s departure from years of effort to shore up crude prices is also having consequences for the kingdom itself. The country’s budget deficit deepened in the third quarter, and it has been forced to scale back spending on some economic transformation projects, including the futuristic city of Neom. The full 22-nation OPEC+ alliance is due to meet on Nov. 30 to review production levels for 2026.
NN: Another worry out of the market
Israel says remains handed over by Hamas not hostages’
Israeli authorities confirmed on Saturday that partial remains transferred by Hamas through the Red Cross do not belong to any of the remaining hostages. The forensic analysis was completed at the Abu Kabir institute in Tel Aviv, following the handover late Friday. Eleven hostages confirmed to have died are still held in Gaza. Neither the Israeli government nor Hamas issued a public statement about the remains, but the Times of Israel reported that identification efforts ruled out any match.
NN: who can blame them…. After all when this started with Mohammad they did not have DNA tools back then.
Standard Chartered’s OPEC+ Meeting Prediction
In a report distributed by the Standard Chartered team on Wednesday, Emily Ashford, Head of Energy Research at Standard Chartered Bank, offered a prediction for OPEC+’s next meeting, which is scheduled to be held on November 2.“OPEC+ [is] likely to continue [a] gradual unwinding of cuts, adding a further 137,000 barrels per day month on month at [the] November 2 meeting,” Ashford said in the report. “We see no reason for a change in strategy this month. The week on week change in the shape of the Brent forward curve and Russia-based market supply concerns are supportive of OPEC+ continuing its small monthly unwind of the April 2023 voluntary output cuts,” Ashford added. In the report that Standard Chartered Bank expects the group’s next meeting “to continue the trend of rapid decisions, with the communiqué focusing on the group’s ability to pause or reverse the additional adjustments, including the previous November 2023 tranche of 2.2 million barrels per day”. The Standard Chartered report projected that the ICE Brent nearby future crude oil price will average $65 per barrel in the fourth quarter of this year and $68.50 per barrel overall in 2025. A statement posted on OPEC’s website on October 5 revealed that Saudi Arabia, Russia, Iraq, the United Arab Emirates (UAE), Kuwait, Kazakhstan, Algeria, and Oman “decided to implement a production adjustment of 137,000 barrels per day” in a virtual meeting held that day. “The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 October 2025, to review global market conditions and outlook,” the statement noted. “In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137,000 barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023,” it added. The statement highlighted that this adjustment will be implemented in November. The table highlighted that November 2025 “required production” is 10.061 million barrels per day for Saudi Arabia, 9.532 million barrels per day for Russia, 4.255 million barrels per day for Iraq, 3.399 million barrels per day for the UAE, 2.569 million barrels per day for Kuwait, 1.563 million barrels per day for Kazakhstan, 967,000 barrels per day for Algeria, and 808,000 barrels per day for Oman. “The 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner,” the OPEC statement said. “The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to pause or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023,” it added “They also confirmed their intention to fully compensate for any overproduced volume since January 2024,” it went on to state. The OPEC statement also highlighted that the eight OPEC+ countries will hold monthly meetings “to review market conditions, conformity, and compensation”. It added that the eight countries will meet again on November 2.
In a release posted on the U.S. Department of the Treasury website on October 22, U.S. Treasury Secretary Scott Bessent announced that the Treasury “is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine”. In that release, the Treasury noted that “today’s actions increase pressure on Russia’s energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy”
NN; The story here is Trumps sanctions on Russia’s two biggest oil companies. This has the potential to remove 2 million barrels per day from the oil mareket. This could be devastating.
US targeting drug cartel sites in Venezuela
President Donald Trump may commence strikes against military facilities in Venezuela suspected of being used by cartels in drug smuggling operations, as per a report by the Miami Herald on Friday. Sources familiar with the situation alleged that the White House decided to expand the scope of its operations against Latin American drug cartels, which Washington had designated as foreign terrorist organizations earlier this year, by striking targets inside Venezuela. Furthermore, the strikes would seek to weaken the regime of the Venezuelan President Nicolas Maduro. Reportedly, the strikes could occur at any point in the near future. Meanwhile, the US continued to target vessels allegedly involved in the smuggling of narcotics, amid heightened tensions with Venezuela. The administration of United States President Donald Trump may commence strikes against military facilities in Venezuela suspected of being used by cartels in drug smuggling operations, as per a report by the Miami Herald on Friday. Sources familiar with the situation alleged that the White House decided to expand the scope of its operations against Latin American drug cartels, which Washington had designated as foreign terrorist organizations earlier this year, by striking targets inside Venezuela. Furthermore, the strikes would seek to weaken the regime of the Venezuelan President Nicolas Maduro. Reportedly, the strikes could occur at any point in the near future. Meanwhile, the US continued to target vessels allegedly involved in the smuggling of narcotics, amid heightened tensions with Venezuela.
NN: I am always amazed how stupid these dictators really are. You would think when they wake up to find the worlds biggest most modern aircraft carrier group from the foremost super power is parked off your north coast you might want to look at cutting a deal. Not this idiot. He is handing out small arm pea shooters. Think Noriega and Saddam Insane.
Netanyahu vows to disarm Hamas, demilitarize Gaza
Israeli Prime Minister Benjamin Netanyahu stated on Thursday that Israel will disarm Hamas and demilitarize Gaza if foreign troops don’t do it. Speaking at a graduation ceremony at the officers’ school in southern Israel, the prime minister shared that the country has “more work to do” in Gaza. He also threatened Hamas that if the group “continues to explicitly violate the ceasefire, it will suffer powerful attacks like it did two days ago and yesterday.” “We decide, and we are acting whenever necessary to remove immediate threats from our forces,” Netanyahu stressed. Additionally, the Israeli army announced yesterday that the ceasefire had been “renewed,” following clashes between the two sides, after Israel stated that Hamas had violated the ceasefire.
NN: This charade will last long enough for Hamas to rebuild their terrorists army smuggling on weapons on the aide convoys
IAEA detects ‘movement’ at Iran’s nuclear sites
International Atomic Energy Agency (IAEA) Director General Rafael Grossi said on Wednesday that Iran is not actively enriching uranium at the moment, but that IAEA inspectors detected certain activity around Iranian nuclear sites. “The nuclear material enriched at 60% is still in Iran. And this is one of the points we are discussing because we need to go back there and to confirm that the material is there and it’s not being diverted to any other use. This is very, very important,” Grossi told The Associated Press in an interview. He further explained that since the IAEA is monitoring the country’s nuclear infrastructure through satellite, and that inspectors did not register any sign of accelerated production, except for movement around stockpiles. The director general stressed that this stockpile “could allow Iran to build as many as 10 nuclear bombs, should it decide to weaponize its program.”
NN: If they are not stopped you will see mushroom clouds
EIA Weekly Petroleum Report
Petroleum Report for the week ending October 24, 2025
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve decreased by 6.9 million barrels from the previous week. At 416.0 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending October 24, 2025, which was 511 million barrels per day less than the previous week’s average. Refineries operated at 88.6% of their operable capacity last week. Gasoline production decreased last week, still averaging 9.6 million barrels per day. Distillate fuel production decreased by 134 thousand barrels per day last week, averaging 4.5 million barrels per day. U.S. crude oil imports averaged 5.1 million barrels per day last week, decreased by 867 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.7 million barrels per day, 5.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 466 thousand barrels per day, and distillate fuel imports averaged 109 thousand barrels per day. Total motor gasoline inventories decreased by 5.9 million barrels from last week and are about 3% below the five year
average for this time of year. Both finished gasoline and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.4 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories
increased by 2.5 million barrels from last week and are 14% above the five year average for this time of year. Total commercial petroleum inventories decreased by 15.9 million barrels last week. Total products supplied over the last four-week period averaged 20.8 million barrels a day, down
by 0.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 4.2% from the same as the last year period. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, down by 1.5% from the same period last year. Jet fuel product supplied was up 7.6% compared with the same four-week period last year
NN: A serous drop in inventors. And a lot o refiners are still off line for maintaince. Operating at only 88% of capacity.
Netanyahu orders ‘forceful’ strikes in Gaza
Israeli Prime Minister Benjamin Netanyahu gave an order to the country’s military to “immediately” begin “forceful” strikes in the Gaza Strip, his office stated on Tuesday. The decision came after security consultations and amid a tense ceasefire agreement with Hamas that has been in effect since October 10. Earlier today, Netanyahu accused Hamas of violating the deal by returning the body of a deceased hostage that the Israel Defense Forces (IDF) had already retrieved two years ago. Concurrently, Israeli media reported an exchange of fire between the military and Hamas in southern Gaza.On October 18, Israel carried out multiple airstrikes in Gaza in response to an alleged Hamas attack on its troops outside the Yellow Line. The United States was said to have intervened to help preserve the tenuous truce brokered by US President Donald Trump.