Key Facts
USO slipped 0.24% to US$129.70 on Friday, August 28, as tentative Strait of Hormuz shipping progress trimmed the geopolitical premium in WTI futures.
Petrobras rose 1.53% to US$18.53 as investors focused on two Búzios pre-salt platforms, P-80 and P-82, nearing deployment with about 450,000 barrels per day of combined capacity.
Guyana’s Errea Wittu vessel arrived off the coast around August 20-21 and targets first oil in September or the fourth quarter from the Uaru development, with roughly 250,000 barrels per day of capacity.
Stabroek Block output eased to around 869,000 barrels per day in June down from 918,000 in February, a dip tied to project timing rather than geology.
