During the meeting held at ADNOC headquarters, the Council revealed the discovery of new hydrocarbon reserves estimated at 7 billion barrels of crude oil and 58 trillion standard cubic feet of conventional gas, putting the UAE in the sixth place in terms of global oil and gas reserves, with a total reserves of 105 billion barrels and 273 trillion cubic feet of conventional gas.

Let’s see which companies are still undervalued and which ones are out of my radar. Some of them reached their fair value and some other stopped to satisfy my parameters.

U.S. Rig Count is down 8 rigs from last week to 822, Canada Rig Count is down 5 rigs from last week to 142

Brent crude was up 27 cents, or 0.4%, at $59.89 a barrel, West Texas Intermediate crude rose 32 cents to $54.50 a barrel,

Crude oil prices are projected to average US$60 per barrel in 2019 and weaken to US$58 per barrel in 2020

Brent crude was down 18 cents, or 0.3%, at $61.41 a barrel, WTI crude was down 27 cents, or 0.5%, at $55.27 a barrel,

Brent crude was down 32 cents, or 0.‮‮5‬‬%, at $61.7‮‮0‬‬ a barrel by ‮‮0‬‬933 GMT, having gained more than 4% last week, its best weekly gain since Sept. 20. West Texas Intermediate (WTI) crude was down 33 cents, or 0.6%, at $56.33 a barrel, after rising more than 5% last week, also the biggest weekly increase since Sept. 20.

Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations.

Vostok Oil, a joint project of Rosneft and Independent Petroleum Company (IPC), is set to include some oil fields that are already producing and others which have yet to start, including Rosneft’s Vankor group and IPC’s Payakhskoye field.

U.S. Rig Count is down 21 rigs from last week to 830, Canada Rig Count is up 4 rigs from last week to 147