Roughly 15% of TotalEnergies (TTE FP) production is offline, as the war with Iran nears the one-month mark, but surging oil prices have more than made up for the lost barrels, chairman and CEO Patrick Pouyanné told CNBC in an exclusive interview.

TotalEnergies reporting that roughly 15% of its production is offline due to the ongoing conflict with Iran raises concerns about supply disruption in the energy market. However, the CEO noted that surging oil prices have compensated for these losses, suggesting that demand dynamics remain robust, which could further support price stability or increases in the near term. Traders should monitor oil price movements closely, as they could react to both supply risks and global demand signals.