Oil Search shares tumble while output rises

The share price of ASX-listed oil and gas producer Oil Search tumbled nearly 8% on Tuesday as lower oil prices, scheduled maintenance and government negotiations in Papua New Guinea impacted its results. Despite the challenges, Oil Search has reported a 3% increase in quarterly production, and an 11% increase in full year production, which reached 7.01-million and 27.95-million barrels of oil respectively.