27 Mar Oil Prices Today WTI Crude $97.96/bbl, Brent $111.30/bbl, Bonny Light $123.23/bbl,
(Oilandgaspress) Iraq’s Ministry of Oil has announced finalised oil export volumes for February 2026.
Total exports of crude oil (including condensates): 99,872,220 barrels.
Exports from the oil fields in central and southern Iraq amounted to 93,349,480 barrels.
Exports from the Kurdistan Region via the Turkish port of Ceyhan amounted to 5,551,610 barrels.
Exports from the Qayyarah field amounted to 971,130 barrels.
Average daily crude oil exports: approximately 3.567 million barrels per day.
The total value of oil exported was $6,814,585,000 ($6.81 billion).
This implies an average price per barrel of approximately $68.23. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $97.96 | Up |
| Crude Oil (Brent) | USD/bbl | $111.30 | Up |
| Bonny Light 27/03/26 CBN | USD/bbl | $123.23 | Up |
| Dubai | USD/bbl | $129.99 | Down |
| Natural Gas | USD/MMBtu | $3.06 | Up |
| Murban | USD/bbl | $118.00 | Up |
| OPEC basket 25/03/26 OPEC | USD/bbl | $116.96 | Down |
| At press time (PM) March 27, 2026 |
The Iraqi Civil Aviation Authority (ICAA) has extended the closure of Iraqi airspace to all arriving, departing and transit aircraft until 12:00 noon on Saturday. The authority said the decision was taken as a temporary and precautionary measure, based on an ongoing assessment of the security situation and in light of regional developments and tensions. Related News
The strain on Russia’s exports is compounding tensions linked to the conflict involving Iran. With fewer barrels reaching global buyers, competition for alternative supplies has intensified, particularly in Europe where replacement cargoes are harder to secure. Reuters reporting indicates that close to half of Russia’s crude export infrastructure is currently out of action, equivalent to roughly 2 million barrels per day.
That shortfall is hard to replace quickly. Even temporary losses of this scale can move prices within days. Related News
Iran imposed a “de facto toll booth regime” in the Strait of Hormuz even before its parliament unveiled plans to formally charge ships transiting the critical maritime route, it has been reported.
The Islamic Revolutionary Guard Corps (IRGC) already required ships to submit full documentation, obtain clearance codes, and accept escorted passage through a controlled corridor of the strait, according to Lloyd’s List, a global authority on shipping. Related News
Russian officials confirmed Wednesday that Moscow is sending fuel to Cuba as humanitarian aid, intensifying geopolitical tensions as a Russian oil tanker likely bound for the island approaches the Caribbean. Moscow’s announcement comes amid a US effort to choke off oil supplies to Havana that has led to a worsening energy crisis and an unfolding humanitarian disaster. Related News
The joint venture ‘Rivian and Volkswagen Group Technologies’ (RV Tech) has successfully completed the winter tests of its production-intent zonal architecture for the first generation of software defined vehicles (SDVs). Over the course of several months of testing in Phoenix (USA) and Arjeplog (Sweden), a joint team from Volkswagen, Audi, Scout, and RV Tech validated the functionality and performance of the electronics and software – an important milestone for the joint venture’s ongoing development work. The program consisted of two phases: In Arizona, engineering teams from the brands and the joint venture worked together to finalize key software functions and prepare the reference vehicles for the winter tests in Europe. In Sweden, the systems were then subjected to stress testing under extreme weather conditions with snow and ice. The teams examined, among other things, the interaction between hardware and software for functions such as all wheel drive, traction control, and driving performance. Over-the-air (OTA) functionality was also validated. In total, the joint venture and the brands conducted hundreds of tests and validation cycles. Individual approval drives in Germany and Sweden with the brands’ development leadership marked the successful completion of the winter test program.
The results demonstrate that the SDV architecture already operates reliably under harsh winter climatic and dynamic driving conditions. In addition, this milestone establishes the foundation for the next development phases within the joint venture and individual Group brands.
The Volkswagen Group will deploy this SDV architecture in electric vehicles across markets in the Western Hemisphere. Customers can benefit from highly automated driving features and advanced infotainment solutions that can be continuously updated via over-the-air updates. Related News
René Reif will become the new Chief Operations Officer (COO) and Member of the Executive Board of PowerCo SE with effect from April 1, 2026. This decision was approved by the Supervisory Board of PowerCo SE. Reif has been working for PowerCo SE since 2025 and was most recently responsible for the construction of the St. Thomas gigafactory in Canada. Prior to that, he worked for Daimler AG for over 30 years. As Chief Operations Officer, he will be responsible for the planning, construction and operation of PowerCo’s cell factories in Europe and North America. He succeeds Sebastian Wolf, who will leave the Volkswagen Group at his own request.Related News
Hyundai to Launch 36 New and Enhanced Vehicle Through 2030. Hyundai Motor Company’s President and CEO José Muñoz announced a bold, multi year product and manufacturing strategy that underscores the brand’s long term commitment to North America, including the United States, Canada, and Mexico. From 2026 through 2030, Hyundai plans to introduce 36 all new or significantly enhanced models including passenger cars, SUVs, trucks, and commercial vehicles. These new vehicles include core models and expanded trims, including XRT and N performance derivatives.
These models will be supported by a broad mix of ICE, HEV, EV, and extended range electric (EREV) powertrains to meet evolving customer demands across the region.
These new models, advanced powertrains, and expanded production initiatives build on Hyundai Motor Group’s previously announced $26 billion investment in the United States, a comprehensive effort that includes a new, state-of-the-art steel mill in Louisiana and a robotics innovation hub, strengthening Hyundai’s manufacturing and technology footprint in the region.
This multifaceted expanded North American product strategy aligns with Hyundai’s broader localization and manufacturing goals in the United States. Hyundai is targeting more than 80 percent of vehicles sold in the U.S. to be assembled domestically by 2030[ii], while simultaneously increasing U.S. supply chain content from approximately 60 percent to 80 percent, reinforcing the region’s resilience and enabling greater efficiency through localized sourcing.
Together, Hyundai’s expanded North American product lineup, growing U.S. production footprint, and increased parts localization position the brand for sustained growth, greater flexibility, and stronger alignment with customer priorities across the U.S., Canada, and Mexico. Related News
Hyundai Motor North America (HMNA) has been named to Fast Company’s 2026 Most Innovative Companies list, recognizing the company’s leadership in electrification, EV ecosystem development and strategic U.S. manufacturing investment.
“This recognition from Fast Company reflects a transformation that is well underway. Hyundai is no longer simply an automaker,” said José Muñoz, president and chief executive officer, Hyundai Motor Company. “We are building AI-powered robots, developing autonomous vehicles, and manufacturing world-class electric vehicles right here in the United States. The IONIQ 9 and the Metaplant in Georgia are proof points of that evolution, and they are just the beginning. We are moving fast, thinking ahead, and building the kind of company that earns recognition like this every year. This recognition reflects the work of thousands of people across Hyundai around the world.” Related News
More Energy, Oil & Gas Stories !!! �News straight from the source �
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
“Stay informed with Oilandgaspress.com—your independent source for global energy, oil, gas, EV, and automotive industry news and analysis.”
Follow us: on Twitter | Instagram
Your Daily Source for Oil, Gas, Renewables & EV Market Insights :
latest oil and gas updates
Sorry, the comment form is closed at this time.