Russia has long been seeking to capitalize on its OPEC ties with investment deals, which have been slow to materialize despite official state visits by Saudi King Salman to Moscow in 2017 and Russian President Vladimir Putin to Riyadh in October.

Al Mazrouei said, via a series of tweets, "OPEC and OPEC+ played an important role in delivering market stability. The UAE Ministry of Energy and Industry firmly believes that a new agreement is essential to support a balanced and less volatile market."

Saudi Aramco received a directive from the Ministry of Energy to increase its maximum sustainable capacity (MSC) from 12 million barrels per day (MMBD) to 13 MMBD.

UAE Minister of State and ADNOC Group CEO, Dr. Sultan Ahmed Al Jaber has commented on recent market developments, noting that the UAE oil company is set to supply the market with over four million barrels of oil per day in April 2020.

Norway's preliminary production figures for February 2020 show an average daily production of 2 106 000 barrels of oil, NGL and condensate,

В 2019 году была подписана Хартия долгосрочного сотрудничества между государствами ОПЕК и не-ОПЕК.

The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on Monday, triggering panic selling on Wall Street and other equity markets that have already been badly hit by the impact of the coronavirus outbreak.

U.S. shale companies need prices at least in the low $40s to cover costs,

Saudi Aramco announces that it will provide its customers with 12.3 million barrels per day (MMBD) of crude oil in April

U.S. natural gas production grew by 9.8 billion cubic feet per day (Bcf/d) in 2019

«Российская нефтяная отрасль обладает качественной ресурсной базой и достаточным запасом финансовой прочности, чтобы оставаться конкурентоспособной при любом прогнозируемом уровне цен, а также сохранять свою долю на рынке. При этом Правительство будет уделять особое внимание стабильному снабжению отечественного рынка нефтепродуктами и сохранению инвестиционного потенциала в секторе», – сообщил Министр энергетики.

Saudi Arabia has said it could raise production to 12 million barrels per day,

OPEC recommend extending the duration of the proposed 1.5 million barrel per day additional adjustment until the end of 2020, instead of 30th of June 2020.

The worldwide rig count for February 2020 was 2,125, up 52 from the 2,073 counted in January 2020, and down 181 from the 2,306 counted in February 2019.

U.S. Rig Count is up 3 rigs from last week to 793, Canada Rig Count is down 37 rigs from last week to 203.