Russian President Vladimir Putin said Sunday that Russia will work with Saudi Arabia and other Arab nations to counter recent instability in the oil markets caused by attacks on energy sites in the Middle East.

"UAE-Russia relations are historic and based on ties of friendship, cooperation and respect for common interests. These relations are now further developing across all levels, a reflection of the leaderships keenness to enhance continuous cooperation,"

Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, said that the value of non-oil trade between the UAE and Russia over the past five years amounted to US$14.1 billion, while last year’s non-oil trade totalled $3.4 billion, compared to $2.5 billion in 2017, a growth of 36 percent.

The global economy has started to slow down in 2019, reflecting an impact from USChina trade tensions, as well as the economic cycle in the US.

China's crude oil imports jumped 10.8% year on year to hit 10.08 million b/d in September, crossing over 10 million b/d mark again since April,

Acquisition of ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa

U.S. Rig Count is up 1 rig from last week to 856, Canada Rig Count is up 2 rigs from last week to 146

Brent rose as much as 2.3% to $60.46 a barrel and were at $60.13 per barrel, WTI rose as much as 2.1% to $54.69 a barrel and were at $54.47 per barrel, up 92 cents.

During the visit, 15 agreements in the fields of nuclear power, oil and environment will be signed to develop co-operation and a comprehensive strategic partnership, as well as opening new horizons for joint action in various sectors.

With an oil production capacity of about 12mn b/d and posting a profit of $46.9bn in the first half of 2019, Aramco is betting institutional investors will rush to buy the 5% stake set to be sold by the Saudi government.

In the third quarter 2019, NOVATEK’s hydrocarbon production totaled 145.2million barrels of oil equivalent (boe), including 18.31 billion cubic meters (bcm) of natural gas and 3,041 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 7.2 million boe, or by 5.2% as compared with the third quarter 2018.

Nigeria's allocation was increased to 1.774 million barrels per day (bpd) from 1.685 million bpd at the last OPEC meeting in July,

Nigeria is seeking to recover as much as $62 billion from international oil companies, using a 2018 Supreme Court ruling the state says enables it to increase its share of income from production-sharing contracts.

Growth is expected to pick up to 2.3 percent this year on the strength of a continuing recovery in the oil sector and the regaining of momentum in agriculture following a good harvest.

U.S. oilfield services firm Halliburton on Wednesday said it was cutting 650 jobs across Colorado, Wyoming, New Mexico and North Dakota amid slowing oil and gas activity.