The United States has estimated Islamic State was selling as much as $40 million a month of oil, which was then spirited on trucks across the battle lines of the Syrian civil war and sometimes farther.

Indonesia wouldn’t try to block an OPEC decision to throttle back output “as long as we wouldn’t get cut,” the country’s OPEC Governor Widhyawan Prawiraatmadja said in an interview in Jakarta on Tuesday. “We are new, we like to listen, to observe,” he said, adding he didn’t know what price level would trigger an extraordinary OPEC meet.

Suncor Energy today announced that it is sending a letter to shareholders of Canadian Oil Sands Limited ("COS"). The letter outlines the value of Suncor's offer to purchase all of the shares of COS against the poor performance and track record of COS and what Suncor believes are the severe risks facing COS as an independent company both now and in the future. Suncor strongly encourages COS shareholders to tender to its offer.

Brent LCOc1, the global benchmark, was at $37.74 at 0440 GMT, down 18 cents from its last settlement after rising slightly earlier on Tuesday.

The situation is complicated further by ISIS operating largely on a cash basis, making it difficult to impose sanctions, the witnesses said. Financial pressure could be applied on entities and governments in adjacent countries that do business with the group.

Shell is consulting experts and commercial partners about what to do with the reinforced concrete base structures, each of which rises 160m from the seabed and weighs about 300,000 tonnes. The low oil price has put companies under pressure to shut facilities as cheaply as possible.

Royal Dutch Shell Plc said it would cut about 2,800 jobs to meet a pledge of reducing operating costs by $3.5 billion following its takeover of BG Group Plc.

By 2035 global energy consumption increases by 37% from today’s levels with virtually all (96%) the growth in non-OECD countries and more than half coming from India and China.

As Mexican heavy crude oil exports to the United States have decreased, increasing volumes have been sold to Asian markets, especially India, and to a lesser extent South Korea and Japan.

U.S. Rig Count is down 28 rigs from last week to 709, with oil rigs down 21 to 524, and gas rigs down 7 to 185.