Renewable Vision · every morning at 6:00 Riyadh
Daily Energy Report · Saudi Arabia and the Gulf
5 November 2026 · Issued 05:50 RiyadhLive · updated 23:10
Expansion of the Al Zolf offshore field kicks off to boost output, according to Al Taqa
Oil markets slipped; Brent rose to $100 per barrel per Al Sharq Al Awsat while WTI fell to $87 per barrel per Gulf News. Saudi production fell to 6.24 mb/d per JODI, and the Al Zolf expansion aims to raise output capacity. Ta’ziz secured $1.39 bn financing for Ruwais ammonia projects, according to the energy platform.
Latest price: WTI was at $90 a barrel on 5 November 2026, www.tokenpost.com reported. www.tokenpost.com · 5 Nov 16:19
Sources: JODI (Joint Organisations Data Initiative), Renewable Vision, Attaqa, OilPrice.com, Natural Gas Intelligence, Khaleej Times, Rigzone, Power Technology, Renewable Energy World, Offshore Energy.
The scorecard
The last trading session, the Kingdom’s latest official figures, and the day’s activityMarkets at the last session’s close
- ▼ −12.3% vs 3 Nov
- ▼ −21.9% month to date
- ▲ +52.9% year to date
- ▸ Lowest close in 30 sessions
- ▸ 3 falls in a row
- ▼ −9.7% vs 3 Nov
- ▼ −16.3% month to date
- ▲ +57.2% year to date
- ▸ 3 falls in a row
The Kingdom: latest official figures
The Kingdom’s figures against their targets are for RV Plus members. Get RV Plus
Today in the news
- 8stories
- 2deals and contracts
- 0tenders and awards
- 0project moves
Green is up and red is down: direction only.
The morning brief
Three points ready for the morning meeting- Oil markets slipped; Brent rose to $100 per barrel per Al Sharq Al Awsat and WTI fell to $87 per barrel per Gulf News, while the expansion of the world’s third‑largest offshore Al Zolf field kicked off to boost capacity.
- The Al Zolf expansion bolsters Saudi supply as production fell to 6.24 mb/d per JODI, supporting regional demand and easing price pressure.
- Watch OPEC+ moves and Brent inventory updates, plus any developments on UAE energy project financing.
Analysis
For the morning call: what happened and why it mattersBrent closed at 93.82 $/bbl on 5 Nov (youlyou.com), −12.3% against 3 Nov and +52.9% year to date. Lowest close in 30 sessions. 3 falls in a row.
The full morning-call analysis, on the Kingdom, projects and what it means for energy businesses, is for RV Plus members. Get RV Plus
Number of the day
$93.82
Brent moved −12.3% to $93.82 a barrel (5 November 2026).
Source: Renewable Vision, Daily Energy Report, 5 November 2026 (youlyou.com).
The day in one picture
Renewable Vision's reading of today's news in numbers, ready to sharePage two: the Kingdom's official figures, the markets at the last session and our track record, for RV Plus members. Get RV Plus
Page three: projects and tenders across the Gulf in numbers, for RV Plus members. Get RV Plus
Top energy news
From the last 24 hours- OilHigh relevance for the Kingdom· ▼ Downward
Expansion of Al Zolf offshore field kicks off to boost output
The development of the world’s third‑largest offshore oil field entered a new phase, with production starting from a massive expansion aimed at enhancing operational capacity, according to Al Taqa. The project seeks to raise output capacity ahead of its targeted milestone.
Boosts Saudi output capacity and narrows the gap with OPEC+ targets.
Attaqa · 03:00 - OilRelevant for the Kingdom· ▲ Upward
Butane prices surge to decade highs
OilPrice.com reported that butane prices have hit decade‑high levels, driven by market conditions. The rise reflects strong demand for refined petroleum products.
Supports refining margins by lifting product prices.
OilPrice.com · 03:00 - HydrogenWider market· ▲ Upward
Cross‑border hydrogen pipeline secures first‑stage approvals
The cross‑border hydrogen pipeline received the necessary approvals to launch its first stage, according to Al Taqa. The project will deploy clean‑energy technologies for industrial applications.
Advances the regional hydrogen sector.
Attaqa · 02:00
5 more stories in the full report. Get RV Plus
The full report is for RV Plus members
- All of the last 24 hours' energy news, and the table of today's deals and contracts
- The Kingdom's tenders, awards and projects, its crude balance and official figures
- Today's prices published in the last day, each with its source and time
- The Brent outlook from Renewable Vision's proprietary model, with its track record
- The PDF and an Excel file of every table, every morning
- Every past issue, and email alerts when Brent moves 3% or new official figures arrive
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Sources, method and editorial rules
The Kingdom: Saudi Arabia's monthly crude figures as reported to the Joint Organisations Data Initiative (JODI), and Renewable Vision's power balance, solar outlook and project ledger, built from the Principal Buyer's and SWPC's registers and the renewables tracker. Prices: EIA spot prices via FRED (published a few working days behind the market); EIA weekly crude stocks; IMF monthly averages for Dubai, European gas and Asian LNG. Headlines: EIA, OilPrice.com, Rigzone and the publishers the site follows; each event links to its source. The 3-2-1 crack is two barrels of New York Harbor gasoline and one of heating oil against three of WTI, from the same EIA series.
Editorial rules: Renewable Vision is an energy platform. The dialogue reports facts with their sources and carries no political or security news; where developments move the markets, it refers to them in market terms only. Saudi news is taken only from official sources and Saudi and Gulf media, reported as published and never interpreted or price-scored. Headlines listed in their publishers' own words come from official sources only.
Information, not investment advice. The outlook is a statistical range, not a recommendation to buy or sell.