AB - oil output from the Organization of Petroleum Exporting Countries fell 530,000 barrels a day to 32.6 million a day last month. It’s the sharpest pullback since January 2017, when the group first embarked on its strategy to clear the glut created by rising supplies of US shale oil.

MEOG - An expected $210bn will be spent on offshore oilfield services globally next year, according to Rystad Energy’s latest project sanctioning report. Offshore contractors have experienced four consecutive years of declining revenues, but those still standing can expect revenues to start growing again next year.

PLATTS - Brazilian state-led oil company Petrobras registered a 1.4% month-on-month slide in domestic crude oil output in November as ongoing maintenance work at offshore floating production units offset fresh flows from new wells.

BHGE - U.S. Rig Count is up 3 rigs from last week to 1,083, with oil rigs up 2 to 885 and gas rigs up 1 to 198. Canada Rig Count is down 61 rigs from last week to 70, with oil rigs down 43 to 15 and gas rigs down 18 to 55.

PLATTS - The downward trend in output from Mexico's state oil company Pemex continued in November as oil and gas production fell 2.7% and 2.3% respectively, from the previous month, company data showed Wednesday.

REUTERS - “I think that during the first half, due to joint efforts, which were confirmed by the OPEC and non-OPEC countries this December, the situation will be more stable, more balanced,” Novak said in an interview on Rossiya-24 TV.

ADNOC - The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have awarded Austria's OMV a 5 percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields.

BHGE - U.S. Rig Count is up 9 rigs from last week to 1,080, with oil rigs up 10 to 883 and gas rigs down 1 to 197. Canada Rig Count is down 43 rigs from last week to 131, with oil rigs down 37 to 58 and gas rigs down 6 to 73.

API - The U.S. produced a record 11.6 million barrels of oil per day (mb/d) and a record 4.8 mb/d of NGLs in November. Crude exports also hit a record high at 2.4 million barrels per day last month, and U.S. petroleum net imports fell at their lowest monthly level in more than 50 years at 2.2 million barrels per day.

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 134,000 b/d month-over-month in January from 8,032 to 8,166 thousand barrels/day , gas production to increase 1,127 million cubic feet/day from 75,789 to 76,916 million cubic feet/day .

NPD - Preliminary production figures for November 2018 show an average daily production of 1 880 000 barrels of oil, NGL and condensate, which is an increase of 22 000 barrels per day compared to October.

MEOG - King Salman Energy Park (SPARK), a 50sqkm "energy city megaproject" in Saudi Arabia, is one of the Kingdom's most impressive endeavours into localisation so far. Once operational, it is expected to generate 100,000 direct and indirect jobs and should contribute $6bn to Saudi Arabia's GDP annually.

MEOG - Saudi Aramco and Raytheon Company, through its subsidiary Raytheon Saudi Arabia, signed a memorandum of understanding to establish a joint venture company that will develop and provide best-in-class cybersecurity services in Saudi Arabia and the region.

MEOG - In the oil and gas industry, technologies such as artificial intelligence (AI), the internet of things (IOT), machine learning and big data can serve operators by increasing productivity and streamlining processes, all while helping them attract and retain talent, and remain secure and compliant.

BHGE - U.S. Rig Count is down 4 rigs from last week to 1,071, with oil rigs down 4 to 873 and gas rigs unchanged at 198. Canada Rig Count is down 12 rigs from last week to 174, with oil rigs down 7 to 95 and gas rigs down 5 to 79.