Does OPEC+ Really Have Spare Capacity?

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 InsightsWant to Add Oil & Gas To Your Portfolio? Fill Out Our Oil & Gas Portfolio SurveyNeed Power For Your Data Center, Hospital, or Business?Follow Stuart On LinkedIn: https://www.linkedin.com/in/stuturley/ and Twitter: https://twitter.com/STUARTTURLEY16Follow Michael On LinkedIn: https://www.linkedin.com/in/michaelta... and Twitter: https://twitter.com/mtanner_1Timestamps:00:00 - Intro00:14 - OPEC+ Has Come Close to Its Limit, Leaving Prices Open to Spike04:53 - Exxon Considers Return to Iraq: A Potential Re-Entry into the Majnoon Oil Field06:30 - China to Build 11 New Oil Storage Sites in 2 Years08:41 - The United States Has Begun Receiving Shipments of Tungsten, Straight from Rwanda, Bypassing China11:13 - President Trump Approves a 211-Mile Road to Alaska’s Ambler Mining District16:14 - Markets Update17:52 - Shell’s Q3 Profit Soars on Strong Trading and Production18:25 - Shell to Take $600 Million Hit from Scrapped Rotterdam Biofuels Project21:59 - OutroLinks to articles discussed:OPEC+ Has Come Close to Its Limit, Leaving Prices Open to SpikeExxon Considers Return to Iraq: A Potential Re-Entry into the Majnoon Oil FieldChina to Build 11 New Oil Storage Sites in 2 YearsThe United States Has Begun Receiving Shipments of Tungsten, Straight from Rwanda, Bypassing ChinaPresident Trump Approves a 211-Mile Road to Alaska’s Ambler Mining DistrictShell’s Q3 Profit Soars on Strong Trading and ProductionShell to Take $600 Million Hit from Scrapped Rotterdam Biofuels Project

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