Iran’s Uranium Buried, Not Destroyed, Saudis Breach OPEC+ Quota

Andrew Sheves Good morning.

🇮🇷** Iran’s Uranium Buried, Not Destroyed**

A senior Israeli official said intelligence indicates much of Iran’s enriched uranium is buried at Isfahan and could potentially be recovered, though any attempt would likely be detected and prompt renewed Israeli strikes. The assessment contradicts Trump’s repeated claims that US strikes “totally obliterated” Iran’s nuclear facilities, while IAEA chief Rafael Grossi said parts of the targeted sites are “still standing.” Iran’s President Pezeshkian confirmed the facilities were “severely damaged” with no current access, though Israel believes the nuclear program was set back two years overall. More - BBC

🛢️Saudis Breach OPEC+ Quota

Saudi Arabia raised crude output by 700,000 barrels daily to 9.8 million barrels in June, far exceeding its OPEC+ quota in a rare breach as Gulf producers rushed to export oil during the Israel-Iran conflict. Iraq, Kuwait and UAE also exceeded quotas while Iran’s production fell 400,000 barrels daily, according to the International Energy Agency. The surge comes as global oil markets face substantial surplus with demand growing at the slowest pace in 16 years, while non-OPEC production from the US, Guyana, Brazil and Canada expands twice as fast as global consumption. More - Bloomberg

Africa Stability Ratings and News Summary

More Unstable

🇩🇿 Algeria, 🇦🇴 Angola, 🇧🇯 Benin, 🇧🇫 Burkina Faso, 🇧🇮 Burundi, 🇨🇲 Cameroon, 🇨🇫 Central African Republic, 🇹🇩 Chad, 🇰🇲 Comoros, 🇨🇩 Democratic Republic Of The Congo, 🇩🇯 Djibouti, 🇬🇶 Equatorial Guinea, 🇪🇷 Eritrea, 🇸🇿 Eswatini, 🇪🇹 Ethiopia, 🇬🇦 Gabon, 🇬🇳 Guinea, 🇬🇼 Guinea-Bissau, 🇨🇮 Ivory Coast, 🇰🇪 Kenya, 🇱🇸 Lesotho, 🇱🇷 Liberia, 🇲🇬 Madagascar, 🇲🇼 Malawi, 🇲🇱 Mali, 🇲🇷 Mauritania, 🇲🇦 Morocco, 🇲🇿 Mozambique, 🇳🇪 Niger, 🇳🇬 Nigeria, 🇨🇬 Republic of the Congo, 🇷🇼 Rwanda, 🇸🇳 Senegal, 🇸🇱 Sierra Leone, 🇸🇴 Somalia, 🇿🇦 South Africa, 🇸🇸 South Sudan, 🇸🇩 Sudan, 🇬🇲 The Gambia, 🇹🇬 Togo, 🇺🇬 Uganda, 🇪🇭 Western Sahara, 🇿🇲 Zambia, 🇿🇼 Zimbabwe

More Stable

No countries were more stable over this period

Unchanged

🇧🇼 Botswana, 🇨🇻 Cape Verde, 🇬🇭 Ghana, 🇲🇺 Mauritius, 🇳🇦 Namibia, 🇸🇹 São Tomé and Príncipe, 🇹🇿 Tanzania

Regional News Summary

Tensions are escalating in the Great Lakes region of Africa, particularly between Rwanda and the Democratic Republic of Congo (DRC). UN experts have reported that Rwanda has been supporting rebel groups in the DRC and engaging in unprecedented levels of mineral smuggling, jeopardizing the fragile peace agreement between the two nations [SOURCE - Winnipeg Free Press]. This situation is compounded by China’s growing influence in the region, raising concerns about potential conflicts over valuable resources [SOURCE - RT].

In the DRC, the global demand for copper is also causing disruptions in the mining industry, with a report indicat

Carpe tomorrow!