BP has the lowest amount of pre-FID (final investment decision) resource, which leads to the weakest future growth rates.

CNPC and Mozambique’s national oil and gas company ENH have signed a cooperation framework agreement under which the two sides will reinforce cooperation in oil and gas exploration and production, and natural gas processing and marketing.

International Energy Agency (IEA) Executive Director Fatih Birol said last month that global upstream investment fell by 24 percent in 2015 and is set to fall by 18 percent in 2016.

Crude oil production fell 7.8 percent from April 2015 to average 8.9 million barrels per day in April, the lowest output level in 20 months. Natural gas liquids (NGL) production, a co-product of natural gas production, rose from prior year. NGL production in April averaged 3.3 million barrels per day, 0.7 percent higher than last year. This was the highest April output level on record.

Crude oil production in June from the seven major US shale regions is expected to fall 113,000 b/d month-over-month to 4.85 million b/d. Gas production from the regions is forecast to fall 464 MMcfd.

The Paris-based agency said global oil stocks will experience a “dramatic reduction” in the second half of the year, but also warned that they will continue to increase in the first half of the year as Iran ramps up its production, adding to the nearly two years of oversupply.

Russian oil and gas condensate production may reach 544.6 million tonnes this year, rising to 565 million tonnes in 2017.

Nigeria's oil output fell close to a 22-year low this month due to attacks on oil pipelines in the southern Niger Delta, home to much of the country's oil and gas wealth, compounding the impact of low oil prices on Africa's largest economy.

Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago.

Libya's production was down to 212,000 barrels on Monday, after the largest National Oil Corp (NOC) subsidiary, AGOCO, was forced to slash output by one-third from southeastern fields, an NOC spokesman in Tripoli said.