U.S. Rig Count is down 11 rigs from last week to 806, Canada Rig Count is down 6 rigs from last week to 134

Brent was down 43 cents at $61.85 a barrel , WTI slipped 22 cents to $56.55 a barrel.

Brent crude oil spot prices averaged $60 per barrel (b) in October, down $3/b from September and down $21/b from October 2018. EIA forecasts Brent spot prices will average $60/b in 2020, down from a 2019 average of $64/b. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020. EIA expects crude oil prices will be lower on average in 2020 than in 2019 because of forecast rising global oil inventories, particularly in the first half of next year.

Crude oil throughput at China's domestic refineries jumped 9.2% year on year in October, to breach the 13 million b/d mark for the second time ever, at 13.68 million b/d,

Blistering growth in shale fields propelled U.S. crude output to a record 13 million barrels per day (bpd) this month.

BP's Energy Outlook estimates coal's share of China's energy mix to fall to 35% in 2040 from 60% in 2017, but for the country to remain the world's largest consumer of coal and account for 39% of global coal demand in 2040.

A U.S. Climate Agenda recommends that a U.S. decarbonization strategy be guided by these key objectives: achieving net-zero emissions no later than 2050,

Brent edged down 32 cents, or 0.5%, to $61.74 a barrel , WTI was at $56.54, down 26 cents or 0.5%.

Delivering the opening keynote address, at the event, Dr. Al Jaber said the oil and gas industry is being disrupted by new technologies, new business models, new forms of energy and a new geopolitical order, with the rise of Asia.

Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century

EDF said total output since the start of the year stood at 317.3 TWh, down 1.3% compared with the same period a year ago.

For the nine months of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project amounted to 2,337 thousand boe per day, which is 1.6% higher year-on-year.

Brent was down 69 cents, or 1.1%, at $61.82, WTI was 63 cents, or 1.1%, lower at $56.61 a barrel

China has been relying heavily on Saudi Arabia and Russia for its refinery feedstock requirements over the recent years, with both producers constantly switching between them the top supplier position to Asia's biggest energy consumer.

Trader estimates for cargoes loading from Iran bound for China in November generally ranged between seven and 10. Some said the number was lower at six to seven, while one source said it did not exceed nine.