The CEO of Kuwait Oil Company says global oil reserves are being depleted rapidly.

According to reports from Zhihu Finance APP, on Monday, Vaxcyte (PCVX.US) opened over 50% higher, with gains of around 53% at the time of publication, and a market capitalization of 12.8 billions USD. The surge comes after the company's pneumococcal vaccine met its late-stage clinical trial goals. According to company assessments, VAX-31—a 31-valent pneumococcal conjugate vaccine under investigation—achieved positive topline results in its pivotal Phase III OPUS-1 trial. The trial evaluated the candidate vaccine’s safety, tolerability, and immunogenicity in adults to prevent invasive pneumococcal disease and pneumococcal pneumonia. In the OPUS-1 trial, VAX-31 achieved all pre-specified co-primary immunogenicity endpoints in subjects aged 50 years and older. These trial results will serve as the foundation for the upcoming Biologics License Application to be submitted to the U.S. Food and Drug Administration.

Kuwait Petroleum Company (KPC) CEO: Global refining capacity is insufficient to compensate for the output lost due to the closure of Middle East Gulf facilities. We will cooperate with global partners to expand our crude oil and product tanker fleets through ownership or leasing.