For the nine months of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project amounted to 2,337 thousand boe per day, which is 1.6% higher year-on-year.

Brent was down 69 cents, or 1.1%, at $61.82, WTI was 63 cents, or 1.1%, lower at $56.61 a barrel

Speaking in the southern province of Yazd on Sunday, Dr. Rouhani said that the field’s reserves were estimated to contain 53 billion barrels of oil in place.

China has been relying heavily on Saudi Arabia and Russia for its refinery feedstock requirements over the recent years, with both producers constantly switching between them the top supplier position to Asia's biggest energy consumer.

U.S. Rig Count is down 5 rigs from last week to 817, Canada Rig Count is down 2 rigs from last week to 140,

Brent was down 44 cents, or 0.7%, at $61.85 a barrel, WTI was down 50 cents, or 0.9%, at $56.65 a barrel.

China, the world’s top oil importer, brought in 45.51 million tonnes of crude last month, equivalent to 10.72 million barrels per day (bpd), according to data released by the General Administration of Customs.

Brent stood at $62.58 a barrel , WTI fell 30 cents, or 0.5%, to $56.93 per barrel,

Global demand for energy is forecast to increase from nearly 286 million barrels of oil equivalent a day (mboe/d) in 2018 to more than 357 mboe/d in 2040, with average growth of about 1% p.a. In this period, energy demand in non-OECD countries is expected to increase by almost 75 mboe/d, while demand in the OECD is estimated to drop by around 3 mboe/d.

Brent was up 66 cents, or 1%, at $62.79 a barrel, WTI rose 48 cents, or 0.8%, to $57.02 a barrel.