The U.S. has halted oil extraction from its Strategic Petroleum Reserve for the first time due to conflicts with Iran. Meanwhile, the Department of Energy approved 4 million barrels of additional oil, and BP's Azeri Deepwater Reservoir project reached 11.8 million tons. Oil markets are monitoring production levels, exports, and SPR transactions following storm effects. Bacalhau celebrated its first year of production, while Petrobras signed to partnerships for Berbigão and Sururu shared reservoirs.