Shell’s plans to juice output from its deepwater Perdido development in the U.S. Gulf of Mexico just ran into a delay-shaped pothole. Two new wells intended to lift production from the Great White unit—one of the stars of the Perdido complex—won’t come online until the end of the year, the company confirmed this week. That’s a shift from the original timeline, which had all three wells humming by April.
Oil edged higher after a volatile session as US President Donald Trump’s tariffs on Mexico were delayed by a month and investors assessed the levies’ potential to slow global economic growth, undercutting concerns about short-term supply constraints.