Aramco plans to supply 12.3 million barrels per day of crude in the next two months, after talks with Russia to deepend OPEC+ output cuts floundered, starting a price war. The company will draw 3 million barrels per day from its stocks, producing 12 million barrels per day.

nine Republican senators asked the Department of Commerce to launch an anti-dumping case against Saudi Arabia following its price war with Russia.

Aramco has pledged to supply 12.3 million b/d of crude in April and May

U.S. Rig Count is down 20 rigs from last week to 772, Canada Rig Count is down 77 rigs from last week to 98

That, in turn, has prompted several lawmakers from Texas, North Dakota, Alaska and other oil states to directly lobby Saudi Arabia, stressing the two countries' decades-long ties.

Saudi Aramco will supply 12.3 million b/d of crude to the market during the coming months,

"Saudi Aramco can sustain low oil prices for a long time," Aramco CEO Amin Nasser said on an earnings call. "We are very comfortable with a $30/b price [and] can meet our dividend and shareholder expectations at $30/b and even lower."

Saudi Arabia and Russia have signaled plans to boost production, causing oil prices to nosedive.

Oman pumped 970,500 b/d of crude and condensate in December 2019, according to its ministry of oil and gas, but will be boosting volumes to its full capacity of 1 million b/d over the next few months,

Crude oil production from the major US onshore regions is forecast to increase 18,000 b/d month-over-month in March from 9,057 to 9,075 thousand barrels/day, gas production to decrease 188 million cubic feet/day from 85,167 to 84,979 million cubic feet/day .

In April, Russia may fully return to production levels reached before the OPEC+ deal in October 2018, Novak said.

Россия сейчас ни с кем не ведет ценовой войны

Africa hopes to exploit its 509.6 Tft3 of proven natural gas reserves, which amount to nearly 7.3% of global total reserves of 6,951.8 Tft3.

U.S. Rig Count is down 1 rig from last week to 792, Canada Rig Count is down 28 rigs from last week to 175

Saudi Arabia and Russia launched a war for market share, flooding global markets with crude. Oil traded in New York was trading at $30.76 a barrel in aftermarket hours on Thursday, down more than 2%.