RUSSIA IS READY
REUTERS wrote, Russia is ready to freeze its oil output - among the world's highest - at current level as there would be no problems for Moscow to do so, Russian President Vladimir Putin said on Sunday.
OPEC nations are due to agree a world oil freeze pact with non-OPEC countries on Nov. 30.
"We will do everything that our partners from OPEC are expecting. To freeze crude production is not an issue for us," Putin told a news conference in Lima after the APEC summit.
He added that Russia's oil firms are ready to do so.
Putin also said he has seen a "high probability" that the deal aiming to prop up the markets and boost prices would be reached in an OPEC meeting next week.
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PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.
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REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.