Brent rose $1.17, or 2.7%, to $44.78 a barrel. WTI added $1.17 cents, or 2.8%, to $42.53 a barrel.

EIA forecasts Brent crude oil prices will average $47/b in 2021.

Annual investment in renewables would need to almost triple from an average of just below USD 300 billion in 2013-2018 to almost USD 800 billion through 2050.

In sharp contrast to all other fuels, renewables used for generating electricity will grow by almost 7% in 2020.

"India is set to nearly double its energy consumption over the long-term," Prime Minister Narendra Modi told the virtual forum. "Our energy sector will be growth-centric, industry friendly and environment-conscious."

Saudi Arabia, Iraq "stressed full commitment to all decisions that have been agreed upon, in a manner that guarantees reaching fair and appropriate oil prices for exporters and consumers in the global oil market," the statement said.

The average contract price for spot LNG cargoes shipped to Japan in October rose to $6 per million British thermal units (mmBtu)

Iran’s oil exports have shrunk from more than 2.5 million bpd since 2018,

For the nine months of 2020 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,065 kboe per day, which is 11.6% lower year-on-year.

Brent rose 9 cents, or 0.2%, to $42.49 a barrel. WTI edged up 16 cents, or 0.4%, to $40.45 a barrel.

"In any case, Russia is a responsible player on the energy market and that's something which governs our decisions and our thinking," Sorokin said, during the ADIPEC virtual conference Nov. 9.

UOKiK on Oct. 7 imposed a fine of more than Zloty 29 billion ($7.62 billion, Eur6.48 billion) on Russian gas giant Gazprom for building Nord Stream 2 without its approval, as well as a fine totaling Zloty 234 million on five European companies that helped finance the project.

The almost complete Nord Stream 2 was meant to come online at the end of 2019, but the threat of US sanctions against companies working on laying the pipeline saw main contractor Allseas halt work in December last year.

Russia’s energy-related CO2 emissions in 2019 were around 20% below their 1990 level, at around 1 750 MtCO2.

"Global LNG supply will be moving from sufficient to tight in the next five years, with supply-demand differential falling from 200 Bcm in 2020 to 50 Bcm in 2025,"