Oil Production

Navitas Petroleum concluded the first half of 2026 with a sharp rise in activity following the launch of the Shenandoah project. The partnership recorded revenues of 517.2 million dollars and a net profit of 80.4 million dollars.

OPEC has announced an increase in oil production quotas starting in September, though most member states currently struggle to meet existing targets. Oil prices have declined due to expectations of easing tensions with Iran and the potential reopening of the Strait of Hormuz. Meanwhile, the USA has set an all-time record for oil exports, while China is mitigating the global supply decline by...