December 2018

BHGE - U.S. Rig Count is down 4 rigs from last week to 1,071, with oil rigs down 4 to 873 and gas rigs unchanged at 198. Canada Rig Count is down 12 rigs from last week to 174, with oil rigs down 7 to 95 and gas rigs down 5 to 79.

REUTERS - Brent crude oil futures were at $61.09 per barrel at 0353 GMT, down 36 cents, or 0.6 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $52.47 per barrel, down 11 cents, or 0.2 percent, from their last settlement.

IEA - Cooperation between Russia and Saudi Arabia is now the basis of production management with these two countries having a large capacity to swing output one way or the other. For them, prices falling further would place their budgets under great stress.

МИНЭКОНОМРАЗВИТИЯ РОССИИ - Максим Орешкин подчеркнул, что рост торговли между РФ и ЕС в последние два года и инвестиционного сотрудничества указывает на ренессанс отношений, несмотря на санкционную тематику. "Если мы посмотрим на инвестиционную динамику, то увидим, что сейчас, например, российскими компаниями на территории Европы реализуется целая подборка крупнейших инвестиционных проектов. Это и Северный поток-2, и строительство атомных электростанций в Венгрии, в Финляндии", - сообщил он.

OPEC - In 2019, world oil demand is anticipated to rise by 1.29 mb/d. As a result, total world oil demand is anticipated to reach 100.08 mb/d. Oil demand growth is projected to originate from Other Asia, led by India, followed China, then OECD Americas. OECD countries will rise by 0.25 mb/d, while non-OECD countries will drive oil demand growth by adding an estimated 1.04 mb/d in 2019.

PLATTS - "The UAE is investing because we feel there is a requirement for this production, but we are not going to put that production into the market unless we feel there is a need for it," Mazrouei said after last week's OPEC meeting in Vienna.

SHANA - “OPEC resolution states that the Secretary-General and OPEC's President would allow countries that subject to certain sanctions to be exempted from production cuts,” Zangeneh added.

PLATTS - Renewables' share in Germany's power mix is set to reach 38% this year, ahead of the government's 2020 target of 35% but below-trajectory for 2030's 65% target, utility lobby group BDEW said Thursday.

EBRD - the Bank will no longer finance thermal coal mining or coal-fired electricity generation. The Bank will also stop funding any upstream oil exploration, and will not finance upstream oil development projects except in rare and exceptional circumstances, where such investments reduce greenhouse gas emissions.

IMF - The Malaysian economy has shown resilience. Real GDP growth is projected at 4.7 percent for 2018, underpinned by domestic demand.