The November contract for global crude benchmark Brent was up 0.78% at $46.33 while its U.S. counterpart West Texas Intermediate gained 0.58% to hit $44.94.

«Во втором полугодии цены будут колебаться между 40 и 50 долларов за баррель, в среднем по 2017 году мы ожидаем стоимость нефти в диапазоне 50-60 долларов», - сказал глава Минэнерго России.

The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior accounting executives at the time have agreed to settle charges that they were behind the scheme.

“We need a gentle adjustment to reassure the market,” Mr. Falih said at a briefing where he was flanked by his Russian counterpart, Alexander Novak.

Shell says a fire has forced it to close a key oil pipeline feeding Nigeria's strategic Bonny Export Terminal, which militants attacked last week.

The deal, worth about $2.02 billion, was approved by the cabinet Wednesday, said an official, who didn’t wish to be named. The cabinet also approved another deal worth $1.24 billion reached by the three companies earlier this year to acquire a 29.9% stake in Russia’s Taas-Yuryakh oil field.

The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior accounting executives at the time have agreed to settle charges that they were behind the scheme.

U.S. West Texas Intermediate (WTI) crude had fallen 38 cents to $45.55 a barrel by 0103 GMT, after rising $1.45, or 3.3 percent, in the previous session. Brent crude futures slipped 43 cents to $46.91 a barrel after closing up $1.46, or 3.2 percent.

Speaking to Shana while departing Tehran for Algiers to attend the International Energy Forum (IEF) to be held Tuesday and Wednesday in Algiers, Zangeneh said the current market conditions are not favorable for crude oil producers and consumers in the mid- and long terms.

"Saudi Aramco is forecast to spend around $334 billion. This will be spent on material and services to support service facilities, infrastructure projects, drilling and maintain (oil) potential projects, unconventional resources both in the exploration phase and development and several other projects,"