Shares of Woodside Energy Group (ASX:WDS) and Beach Energy (ASX:BPT) each inched up, while Santos (ASX:STO) fell around 2% in recent Monday trade, as eight allies of the Organization of the Petroleum Exporting Countries (OPEC) reaffirmed their pause on March production increases and signaled flexibility in voluntary output adjustments to support market stability.
The countries include Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman.
Brent crude futures fell 2.8% to $67.39 a barrel.
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