The U.S. has paused oil extraction from its Strategic Petroleum Reserve initially due to tensions with the Iranian government. Meanwhile, the Department of Energy sanctioned 4 million barrels of additional oil, and BP's Azeri Deepwater Reservoir project achieved 11.8 million tons. Oil markets are watching refinery operations, exports, and reserve activities following storm effects. Bacalhau marked its anniversary of production, while Petrobras agreed to deals for Berbigão and Sururu shared reservoirs.