U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 74,000 b/d month-over-month in September from 8,769 to 8,843 thousand barrels/day, gas production to increase 469 million cubic feet/day from 81,893 to 82,362 million cubic feet/day .

Brent crude futures, the international benchmark, rose as much as 19.5% to $71.95 per barrel, WTI futures climbed as much as 15.5% to $63.34

Over the first eight months of 2019, total crude throughput at refineries across China was 5.9% higher year on year at 424.16 million mt, or 12.79 million b/d,

Saudi Aramco will see its production halved, with a 5.7mn barrel per day drop in output due to the attack.

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 12 rigs from last week to 886, with oil rigs down 5 to 733, gas rigs down 7 to 153, and miscellaneous rigs unchanged at 0. Canada Rig Count is down 13 rigs from last week to 134, with oil rigs down 9 to 93 and gas rigs down 4 to 41.

Brent rose 40 cents, or 0.6%, to $62.78 a barrel , WTI were up 37 cents, or 0.6%, to $57.77 a barrel.

Brent crude oil spot prices averaged $59 per barrel (b) in August, down $5/b from July and $13/b lower than the average from August of last year. EIA forecasts Brent spot prices will average $60/b in the fourth quarter of 2019 and $62/b in 2020. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020.

OPEC oil output averaged 29.71 million b/d in August, up 230,000 from July as production increases in Saudi Arabia, the UAE, Nigeria and Iraq offset declines in Venezuela and Libya,

Iraqi crude production rose to 4.65 million b/d in August, from 4.62 million b/d in July, the country's State Oil Marketing Organization said Monday, meaning the country pumped 140,000 b/d more than its OPEC quota of 4.51 million b/d.