U.S. Rig Count is down 327 rigs from last year's count of 838, with oil rigs down 223, gas rigs down 105, and miscellaneous rigs up 1. Canadian Rig Count is down 38 rigs from last year's count of 176, with oil rigs up 11, gas rigs down 49, and miscellaneous rigs unchanged at 0.

Iraq, along with Saudi Arabia, Iran and Russia has increased output to historic highs over the past year to fight for market share with higher-cost producers such as the United States where production has been falling back due to low oil prices.

U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading at $45.81 per barrel at 0301 GMT (11:01 p.m. EDT), up 47 cents, or 1 percent, from their previous close. The contract had already gained as much as 3 percent the day before. International benchmark Brent crude futures LCOc1 were also up, gaining 48 cents, or 1 percent, from their last close to $47.31 per barrel.

In Saudi Arabia, Saipem has been awarded an extension of three years to drilling activities being carried out by ten 2000 HP drilling rigs. In South America, in addition to various extensions ranging in duration from two to twenty-four months for medium and high power rigs in Peru, Colombia, Bolivia and Chile, Saipem has also been awarded a new contract for operations in Argentina, which will be carried out by an hydraulic type rig over a period of eighteen months.

Заместитель Министра подчеркнул, что говорить о том, что век нефтегазового сырья уходит, преждевременно. «Россия достигла постсоветского исторического максимума – в течение сентября среднесуточный объём добычи составил 11,086 миллиона баррелей», - сказал он.

U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading at $45.81 per barrel at 0301 GMT (11:01 p.m. EDT), up 47 cents, or 1 percent, from their previous close. The contract had already gained as much as 3 percent the day before. International benchmark Brent crude futures LCOc1 were also up, gaining 48 cents, or 1 percent, from their last close to $47.31 per barrel.

The cost of importing LNG has dropped sharply this year after New Delhi signed a revised long term contract with Doha. Qatar is the largest supplier of LNG to India. Given the backdrop of low global LNG prices, Petronet LNG insisted on renegotiating its long term contract with RasGas.

“The Managing Director welcomed the Iraqi authorities' economic program, which is being supported by a $5.34 billion Stand-By Arrangement (SBA) from the Fund approved in July 2016. The Managing Director and the Prime Minister exchanged views on how the SBA can help Iraq address the shocks posed by violent attacks and the drop in global oil prices. The Managing Director reiterated the importance of strong commitment to sound policies and decisive action on key reforms that are crucial to yield the largest gains for Iraq’s population.”

Schlumberger will drill 80 wells in an extra-heavy oil field in the Orinoco Belt, said company spokesman Joao Felix. Terms of the deal, which are still being negotiated, will ensure payment from the government.

U.S. West Texas Intermediate (WTI) crude futures were up 1.8 percent, or 81 cents, at $44.86 a barrel at 0403 GMT. The October contract expired yesterday at $43.44 a barrel and the front-month has now rolled over to November delivery. International Brent crude futures were at $46.47 per barrel, up 59 cents, or 1.3 percent, from their last close.

Разведанные нефтеносные участки находятся в зоне суровых климатических условий, и чтобы добыть нефть в Мессояхии и начать ее отгрузку, "потребовались усилия тысяч специалистов, сложнейшие технологии и масштабные инвестиции", сказал глава государства.

Ливия готова рассмотреть вариант с заморозкой уровня добычи нефти, только когда ситуация в стране стабилизируется и нефтяная промышленность выйдет на уровень квоты ОПЕК.

Lybian crude output rose to 450,000 barrels a day after work resumed at some oil fields, Ibrahim Al-Awami, head of oil measurement department at state-run National Oil Corp., said by phone on Tuesday. Armed conflicts and political disputes have hurt the country’s production, which was 260,000 barrels a day in August.

India, seeking to hedge against energy security risks as it imports about 80 percent of its oil needs, is building emergency storage in vast underground caverns to hold a total of 36.87 million barrels of crude, enough to cover almost two weeks of demand.

Preliminary production figures for August 2016 show an average daily production of 1 929 000 barrels of oil, NGL and condensate, which is a decrease of 202 000 barrels per day (approx. 9.5 percent) compared to July.