Buoyed by improved market conditions and increased capital spending on exploration, majors such as Exxon Mobil Corp., Total and Repsol are driving a pickup in global conventional oil and gas discoveries this year.

About 3.2 billion barrels of oil equivalent (Bboe) in conventional resources were discovered in first-quarter 2019, with 2.2 Bboe of that found in February alone, according to Rystad Energy.

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