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Upstream

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2019, January, 10, 15:31:00

WORLDWIDE RIG COUNT DOWN 22 TO 2,244

The worldwide rig count for December 2018 was 2,244, down 22 from the 2,266 counted in November 2018, and up 155 from the 2,089 counted in December 2017.

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2019, January, 9, 11:15:00

OPEC OIL PRODUCTION DOWN 630 TBD

PLATTS - OPEC crude production in December tumbled 630,000 b/d month on month, an S&P Global Platts survey of industry officials, analysts and shipping data showed Tuesday, but the organization still has much more cutting to do to reach its new quotas for 2019.

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2019, January, 9, 11:10:00

SAUDI'S OIL PRODUCTION DOWN 400 TBD

MEOG - Saudi Arabia reportedly cut its crude production by more than 400,000 barrels per day (bpd) in December 2018. Saudi crude production sat at 10.65 million bpd (mbpd) that month, down from 11.07 mbpd in November.

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2019, January, 9, 10:45:00

VENEZUELA'S OIL PRODUCTION: BELOW 1 MBD

PLATTS - The US Energy Information Administration forecasts that Venezuelan oil production will fall below 1 million b/d in the second half of 2019, according to Erik Kreil, an international energy analysis team leader with the EIA.

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2019, January, 7, 09:50:00

IRAQ'S OIL PRODUCTION: 4.513 MBD

REUTERS - Iraq said on Friday it was committed to the OPEC+ output-cutting deal and would keep its oil production at 4.513 million barrels per day for the first half of 2019.

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2019, January, 7, 09:45:00

LIBYA'S OIL REVENUE UP 78%

REUTERS - Libya’s oil revenue rose to $24.4 billion in 2018, up 78 pct from 2017, Libya’s National Oil Corporation (NOC) said in statement on Sunday.

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2019, January, 7, 09:40:00

VENEZUELA'S OIL EXPORTS DOWN AGAIN

BLOOMBERG - Home to the world’s biggest crude reserves, Venezuela exported 1.245 million barrels a day last year, the lowest since 1990, as production tumbles amid an economic and humanitarian crisis. Financial sanctions imposed by the U.S. have further tightened the screws on Venezuela’s ailing economy, while creditors have sought seize its assets including oil cargoes and its prized Citgo refineries in the U.S.

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2019, January, 7, 09:05:00

U.S. RIGS DOWN 8 TO 1,075

BHGE - U.S. Rig Count is down 8 rigs from last week to 1,075, with oil rigs down 8 to 877 and gas rigs unchanged at 198. Canada Rig Count is up 6 rigs from last week to 76, with oil rigs up 5 to 20 and gas rigs up 1 to 56.

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2019, January, 4, 11:55:00

OIL PRICE LEVEL: $60 - 70

MEOG - A $60-70 per barrel oil price level appears adequate to incentivise sufficient long-term supply. The cost to develop both tight oil resources and conventional upstream oil projects has declined significantly since the oil price collapse of 2015-16.

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2019, January, 4, 11:50:00

OPEC PRODUCTION DOWN 530 TBD

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.

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2019, January, 4, 11:40:00

OFFSHORE OILFIELD SERVICES - 2019: $210 BLN

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.

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2018, December, 29, 13:50:00

PETROBRAS OIL DOWN

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.

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2018, December, 29, 13:45:00

U.S. RIGS UP 3 TO 1,083

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.

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2018, December, 27, 17:30:00

PEMEX PRODUCTION DOWN

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.

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2018, December, 26, 07:35:00

MARKET WILL BE BALANCED

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.