IRAQ REASSURES LUKOIL
During a visit to the West Qurna II oilfield in Basra, Prime Minister Haider al-Abadi reiterated his government's commitment to ensuring the security of the southern oilfields and their workers.
He met with senior management of the Russian operator Lukoil, following protests by locals demanding jobs.
A Lukoil official told Reuters that operations were continuing as normal at West Qurna-2 with a steady output of 450,000 bpd, but said production might be disrupted if the situation was not resolved, while a senior official at the South Oil Company (SOC) said, "despite Lukoil's ongoing initiatives to hire more labourers…
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.