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Traffic through the Strait of Hormuz has climbed to its highest levels since the early days of the war.
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The latest well to be stimulated in the Shenandoah South Pilot Project in the Beetaloo sub-basin onshore Australia's Northern Territory yielded a record average 20-day initial production flow rate of 10.3 million cubic feet a day, Tamboran said.
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A statement posted on OPEC's website on Sunday revealed that Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman have decided to boost production next month.
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'The board is very focused on the successful delivery of the Rafael Gas Project and the key milestones towards Final Investment Decision and first material cashflows'.
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'We have revised up our 2026 diesel price forecast, as we move to our 'extend to end' [conflict] scenario', BMI analysts said.
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Oil-producing Malaysia 'is not fully insulated' from the supply disruption brought about by the ongoing war in the Middle East, the national oil company said.
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'Reports of a possible agreement between the United States and Iran to halt hostilities and reopen the Strait of Hormuz have tempered supply concerns to a certain extent and pushed prices down'.
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Chevron and its local partners resumed regular production at the gas and condensate field, weeks after declaring force majeure because of the ongoing war with Iran.
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U.S., Iran and regional mediators are reportedly discussing terms for a possible 45-day ceasefire, but chances of an immediate deal appear low.
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'The investment, estimated at approximately half a billion USD, will help support and increase natural gas production to meet domestic market needs'.
