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• OPEC+ agrees to another oil production boost in October
  OPEC+ agreed Sunday to further increase oil production...

  OPEC+ agreed Sunday to further increase oil production in October, in an ongoing move to regain market share at the expense of prices.

  
  

  Eight members of the Organization of the Petroleum Exporting Countries and its allies, led by Saudi Arabia, met briefly on Sunday and agreed to raise production by 137,000 barrels a day next month.

  
  

  Still, the October increase is less than recent monthly increases, as OPEC+ moves to unwind a series of previous production cuts a year ahead of schedule.

  
  

  In a statement Sunday, OPEC+ said it will return 1.65 million barrels per day worth of production “in part or in full, subject to evolving market conditions and in a gradual manner.” The delegates will meet next on Oct. 5.

  
  

  Oil prices have fallen this year, with U.S. benchmark prices down 14%, but they’ve largely held above $60 a barrel despite forecasts for steeper declines to the $40 level.

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• Pentagon sends fighter jets to target cartels in the Caribbean
  The Department of Defense—rebranded the ...
  The Department of Defense—rebranded the Department of War by President Donald Trump yesterday—deployed 10 F-35 fighter jets to Puerto Rico to combat Latin American drug cartels. The move followed reports two Venezuelan F-16 fighter jets flew over one of three Navy vessels dispatched last month as part of the crackdown.
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• ☕️What Else is Brewing Saturday Morning
   Anthropic to pay $1.5b to settle authors’ copyright claims. In...
   Anthropic to pay $1.5b to settle authors’ copyright claims. In the first major settlement by an AI company over training its model on copyrighted works, Anthropic has agreed to shell out $1.5 billion to resolve claims by authors that it downloaded pirated copies of their books for training. The settlement must still be approved by a judge, but if it had gone to trial and lost the case, Anthropic could have faced $1 trillion in damages to the authors of 7 million books, per Bloomberg. The deal comes as dozens of suits remain pending against Anthropic and its competitors in the AI space over the use of intellectual property to train their models.
  
  Tylenol-maker Kenvue’s stock fell yesterday after the Wall Street Journal reported that HHS Secretary Robert F. Kennedy Jr. plans to release a report linking taking the painkiller during pregnancy to autism. The company said it has evaluated the science and believes “there is no causal link.”
  
  President Trump signed an executive order to change the name of the Department of Defense to the Department of War, signaling a willingness to go on the offensive.
  
  Warner Bros. became the latest Hollywood studio to sue Midjourney, claiming the AI image generator created images and videos of copyrighted characters like Superman and Bugs Bunny.
  
  Roblox announced plans to launch its own TikTok-style short-form video app in a bid to capture whatever it doesn’t already have of kids’ attention.
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• DAILY OIL PRICE: September 5, 2025
  Crude Oil: 61.87   (-1.61)....
  
  
  • Crude Oil: 61.87   (-1.61).
  
  
  • Nymex MTD AVG: 63.2371.
  
  
  • Natural Gas: 3.048   (-0.026).
  
  
  • Gasoline: 1.9642   (-0.0453).
  
  
  • Spreads: October/November (+0.41)     November/December (+0.28).
  
  
  • Plains WTI Posting: 58.35   (-1.61).
  
  

  
  Source: Odessa American
  
  
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• US Drillers Add Oil, Gas Rigs for First Time in Seven Weeks
  U.S. energy firms this week added oil and natural gas rigs for the first...
  U.S. energy firms this week added oil and natural gas rigs for the first time in seven weeks, energy services firm Baker Hughes said in its closely followed report on Sept. 5.
  
  The total oil and gas rig count, an early indicator of future output, rose by one to 537 in the week to Sept. 5.
  
  Despite this week's rig increase, Baker Hughes said the total count was still down 45 rigs, or 7.7%, below this time last year.
  
  Baker Hughes said oil rigs rose by two to 414 this week, while gas rigs fell by one to 118.
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