The U.S. has stopped oil extraction from its Strategic Petroleum Reserve initially due to conflicts with Iran. Meanwhile, the Department of Energy sanctioned 4 million barrels of additional oil, and BP's Azeri Deepwater Reservoir project reached 11.8 million tons. Oil markets are watching refinery operations, exports, and reserve activities following storm effects. Bacalhau celebrated its first year of production, while Petrobras signed to deals for Berbigão and Sururu joint projects.