【石油化工】地缘风险缓和，海外油气巨头整合有望重启——行业周报第409期（20250623—20250629）（赵乃迪/王礼末）

Group 1 - The core viewpoint of the article highlights the easing of geopolitical risks in the Middle East, leading to a decline in oil prices, with Brent and WTI crude oil prices dropping by 12.5% and 12.1% respectively, settling at $66.34 and $65.07 per barrel as of June 27, 2025 [3] Group 2 - The ceasefire between Israel and Iran does not address the ongoing nuclear negotiations, with Iran continuing to assess its nuclear program and asserting it will not abandon its nuclear ambitions, which poses significant geopolitical risks [4] - OPEC+ is expected to continue its large-scale production increase plan, with a proposed increase of 411,000 barrels per day, which is three times the original plan, although actual increases may be lower due to some members exceeding their quotas [5] Group 3 - Shell is reportedly in preliminary acquisition talks with BP, which could lead to the largest energy sector merger since the Exxon-Mobil deal in 1999, as BP is seen as a potential acquisition target due to its underperformance and strategic shift back to oil and gas [6]