[EIA: Most crude oil production will return to pre-conflict levels by the end of this year] Odaily Planet Daily News - The U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, which mentioned that on June 18, the United States and Iran signed a memorandum of understanding to end the conflict and reopen the Strait of Hormuz. With the signing of the agreement and increased traffic through the strait, we have raised our expectations for global oil production for the remainder of this year. We now anticipate that most crude oil production will return to near pre-conflict average levels by the end of this year, and the majority of the shut-in crude oil production will resume operations by the first quarter of 2027 (Q1 2027). (Jin10)