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Since the beginning of 2022, OPEC+ has done an exceptional job of implementing its production cuts of 3.6 million barrels per day at a time when conflict in the Black Sea region and the Middle East has rerouted the world’s oil trade. Shipping traffic through the Suez Canal is down by over 80% from its pre-October 2023 levels (Figure 1). Russian oil, which ...
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Addressing the approved merger of 3R Petroleum and Enauta, Amanda Bandeira, Upstream Research Analyst, said “The combination of businesses between Enauta and 3R Petroleum creates a new operation that could surpass the 100,000 boe/d production mark, competing head-to-head against Prio, currently the larger Brazilian independent operator in the country. “This ...