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Brazil: CNOOC Limited announces Buzios5 Project commences production

CNOOC Limited has announced that the Buzios5 Project has commenced production. The Buzios oil field is located in the Santos Basin, offshore Brazil. It is the largest deep-water pre-salt oil field in the world, with a daily production of about 600,000 barrels at present. Buzios5 is the fifth phase of oil field development.
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Oil Updates — crude edges up on potential US rate hike pause

RIYADH: Oil prices rose on Thursday, reversing earlier losses, as a potential pause in US interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism about further fuel demand growth in the worldโ€™s biggest oil consumer. Brent crude futures for August rose 58 cents, or 0.80 percent, to $72.18 a barrel by 9:55 a.m. Saudi time, while US West Texas
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