The preliminary level for dry natural gas production in August 2020 was 2,801 billion cubic feet (Bcf), or 90.4 Bcf/d. This level was 4.5 Bcf/d (-4.7%) lower than the August 2019 level of 94.8 Bcf/d.

U.S. Rig Count is up 9 from last week to 296, Canada Rig Count is up 3 from last week to 86.

Brent slipped for a third day and was down 51 cents, 1.4%, at $37.14 a barrel, WTI declined 48 cents, or 1.3%, to $35.69 a barrel.

Brent were down $1.96, or 5%, at $37.16, WTI fell $1.94, or 5.2%, to $35.45.

U.S. commercial crude oil inventories increased by 4.3 million barrels to 492.4 million barrels,

Preliminary production figures for September 2020 show an average daily production of 1 772 000 barrels of oil, NGL and condensate.

Brent were down $1.20, or 2.9%, at $40 a barrel, WTI was down $1.49, or 3.7%, at $38.08.

Iran sanctions relief under a change in US president represents the biggest supply and price impact for global oil markets

Brent was up 52 cents, or 1.3%, at $40.98 a barrel, WTI gained 38 cents, or 1%, to $38.94.

Libya's crude and condensate output has more than quintupled over the past month, averaging just close to 600,000 b/d on Oct. 26 as more oil fields in the southwest and southeast have restarted operations, sources added.

National Oilwell Varco, Inc. (NYSE: NOV) today reported third quarter 2020 revenues of $1.38 billion, a decrease of seven percent compared to the second quarter of 2020 and a decrease of 35 percent compared to the third quarter of 2019.

Brent was down $1.08, or 2.6%, at $40.69 a barrel, WTI dropped $1.05, or 2.6%, to $38.80.

The sector is in full-on merger mode in response to oil prices that have been stuck at around $40 a barrel in recent months after the Covid-19 pandemic hit global demand.

Saudi Energy Minister Prince Abdulaziz bin Salman, who has warned his counterparts of the market's shaky footing and the need to be proactive on production policy, could very well welcome any lobbying by the Trump administration, if global oil demand prospects do not improve.

CNOOC’s hydrocarbon output increased from 475 mboe in 2018 to 506.5 mboe in 2019 (+6.6%).