North Sea Brent crude oil spot prices averaged $87/bbl in October, a decrease of $10/bbl from September and the first month Brent crude oil prices have averaged below $90/bbl since November 2010.

Global oil supply inched up by 35 000 barrels per day (35 kb/d) in October to 94.2 million barrels per day (mb/d)

Brent crude prices will average $83/barrel in 2015, $18/barrel lower than last month’s outlook for 2015.

OPEC Diplomacy Picks Up With Iraq-to-Libya Chiefs

IEA Report: Global Gas Demand 50% Higher in 2040

World chokepoints for maritime transit of oil are a critical part of global energy security. About 63% of the world's oil production moves on maritime routes. The Strait of Hormuz and the Strait of Malacca are the world's most important strategic chokepoints by volume of oil transit.

LNG Will Offer Protection Against Gas Supply Halts: IEA

Dispute over Russian gas supplies to Ukraine should be resolved shortly since this country will not survive this winter without Russian gas.

According to Gazprom’s financial report, in 2013 exports to Europe accounted for 58% of its revenue. It is true that Gazprom has been losing market share in Europe, but it has been increasingly flexible and sales rebounded in 2013.

Unseasonably cold temperatures this week led to big increases in heating demand for natural gas from the residential and commercial sectors. Weather forecasters expect the cold to continue into next week, which will likely result in more natural gas consumption.