2020

The UAE produced 2.4 million b/d in October, according to secondary sources quoted in OPEC's November monthly oil report. The UAE's quota is 2.59 million b/d.

South Korean refiners have sharply increased intakes of Middle East crude since May as they started to reduce imports of US grades due to expensive WTI compared with Dubai-linked Persian Gulf grades.

In December 2019, Turkey and Azerbaijan formally inaugurated the US$6.5bn Trans-Anatolian Natural Gas Pipeline (TANAP) gas interconnector.

Industrial production rose 1.1 percent in October.

TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and Natural Law Energy (NLE) today announced they have signed a definitive agreement which allows NLE to make an equity investment of up to $1 billion in the Keystone XL pipeline project.

The agreement brings together the best-in-class in low carbon technologies from ADNOC and Total, and expands on the long-standing partnership and collaboration between the two leading energy producers across the full value chain.

Brent rose 18 cents, or 0.4%, to $44.00 a barrel. WTI added 8 cents, or 0.2%, to $41.42 a barrel.

OPEC+ ministers are weighing whether to relax their current 7.7 million b/d in collective production cuts to 5.8 million b/d as originally scheduled, maintain them at the same level for a few months, or even deepen them.

RCEP covers 30% of the global economy and 30% of the global population, joining for the first time Asian powers China, Japan and South Korea. It aims in coming years to progressively lower tariffs across many areas.

The natural gas produced in October was 11.6% higher from September and up 11.9% from a year ago, data released Nov. 16 by the National Bureau of Statistics showed.