SAUDI - IRAQI TALKS
AOG - Saudi Arabia's Energy Minister Khalid al-Falih has said that the recent talks with his Iraqi counterpart stressed the need to strengthen commitment to a OPEC-led agreement to reduce crude output.
"The talks... came out with an agreement in the vision between the two countries aimed at ensuring the stability of world oil markets and consolidating the gains made in the recent period," Falih has reportedly said in a media statement.
The talks focusesd on "the need to intensify efforts to urge all parties to strengthen their commitment to the agreement to reduce production, to maintain the balance of global energy markets."
Falih, who is also Saudi Arabia's minister of industry and mineral resources, said the economic relationship between the two countries "will witness more cooperation in the field of trade exchange... and joint investments."
Iraqi oil minister Jabar Al Luaibi met with Saudi Crown Prince Mohammad bin Salman during his visit to Saudi Arabia last week, the statement from the kingdom's Energy Ministry said.
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BLOOMBERG - While Europe as a whole gets more than a third of its gas from Russia, that share is lower in the U.K., which receives the bulk of its fuel from North Sea fields and Norway. Still, Moscow-based Gazprom PJSC was the second-biggest supplier to major industrial consumers in the U.K. last year, according to Britain’s energy regulator Ofgem.
FT - of the six LNG tankers that have made deliveries into the UK so far in 2018 three have carried cargoes originally from Russia, leading to questions about whether Moscow was gaining a foothold in the UK gas market after starting up the Yamal LNG facility in Siberia late last year.
REUTERS - So far this year, two Yamal cargoes unloaded at British terminals for domestic consumption, accounting for about a third of Britain’s 2018 LNG imports after typical supplier Qatar pre-sold the bulk of its winter output to Asia last year.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement. Brent crude futures LCOc1 were at $64.62 per barrel, down just 2 cents from their last close.