“India is very price sensitive. I need to ask how do I serve my citizens best. We are free to import oil from any part of the world . . . from the US and Canada, as well as more supplies from Russia.”

Saudi Aramco today signed agreements with major U.S. companies which will pave way for the company to enhance its business synergy with the U.S. as well as attracting investments from its U.S. counterparts to the Kingdom.

Brent crude gained 48 cents o $54.09 a barrel by 1043 GMT (6:43 a.m. ET), with U.S. light crude up 47 cents at $50.80.

Говоря о задачах, стоящих перед российской энергетикой на долгосрочную перспективу, первый замглавы ведомства отметил, что стратегически важно сохранить лидирующую роль страны на мировых рынках. «Учитывая глобальные тенденции развития и появления технологий, формирующих основу для «энергетики будущего», уже сейчас нам необходимо целенаправленно формировать новые точки развития российского ТЭК, чтобы не только удержать лидерские позиции России на мировых энергетических рынках в традиционных для нас нишах, но и стать лидерами на новых направлениях», – подчеркнул он.

IMF - advancing decisively on the structural reform agenda to improve growth potential and rebalance growth towards non-commodity sectors.

Saudi Arabia will go into the meeting of OPEC and non-OPEC producers in Vienna on May 25 determined to maximize its oil revenue through high prices, even if it must make large production cuts in return.

Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015, mainly because of the fall in average annual crude oil prices and, to a lesser extent, because of decreases in OPEC net oil exports.

U.S. Rig Count is up 497 rigs from last year's count of 404, with oil rigs up 402, gas rigs up 95, and miscellaneous rigs unchanged. Canadian Rig Count is up 41 rigs from last year's count of 44, with oil rigs up 20, gas rigs up 22, and miscellaneous rigs down 1 to 0.

Brent crude LCOc1 was up 28 cents, or 0.5 percent, at $52.79 at 0630 GMT. The contract earlier rose to the highest since April 21 and is on track for a nearly 4 percent climb this week, its second week of gains. U.S. crude oil CLc1 was up 29 cents, or 0.6 percent, at $49.64 a barrel, highest since April 26. The contract is also heading for a weekly increase of almost 4 percent.

Algerian energy minister Noureddine Boutarfa said Thursday he believes there is a consensus among countries participating in the OPEC/non-OPEC oil production cut deal regarding the necessity to extend the agreement by nine months through March 2018.