OIL PRICE: NOT ABOVE $57
International benchmark Brent crude futures were at $56.51 a barrel at 0644 GMT, up 8 cents, or 0.14 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.24 percent, at $50.67 per barrel.
The Organization of the Petroleum Exporting Countries (OPEC) and other producers are set to meet in Vienna at 0800 GMT on Friday to discuss a possible extension of an oil supply cut deal to prop up prices.
Goldman Sachs said that talks over extending cuts are "noteworthy but premature", adding "we believe it is unlikely that committee will recommend extension of cuts this week."
Michael McCarthy, chief market strategist at CMC Markets in Sydney, predicted there will be "strong rhetoric but whether or not they will be able to boost oil prices from current high levels is another question".
There will be some focus on whether Nigeria and Libya, who have been exempt from the curbs, will join any future cuts. The two OPEC members have both been invited to the meeting.
"The market is still split as to whether the meeting will bring fresh supply cuts to the table," ANZ bank said in a note.
"With U.S. stockpiles remaining elevated, a firm signal about lower supply is likely needed for price momentum to remain positive."
OPEC and some non-OPEC producers including Russia first agreed in November last year to cut their output by around 1.8 million barrels per day (bpd) to clear global oversupply and support prices.
Despite their concerted efforts - the oil cartel extended their supply cuts until the end of March - prices have remained depressed amid increasing U.S. oil production.
The Energy Information Administration (EIA) reported on Wednesday that U.S. crude production reached 9.51 million bpd in the week ended Sept.15, up from 8.78 million bpd a week ago.
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.