Global oil demand increased by 900 kb/d y-o-y in 3Q19, the strongest annual growth in a year. Nearly three-quarters of the growth occurred in China.

Weatherford International plc announced that it has completed its financial restructuring and emerged from chapter 11 protection.

U.S. Rig Count is unchanged from last week at 799, Canada Rig Count is up 15 rigs from last week to 153,

Oil and gas investments in Norway are expected to rise by 3.8% next year to 194.6 billion Norwegian crowns ($21.2 billion) before declining in subsequent years, an industry lobby group said on Thursday.

Norway's preliminary production figures for November 2019 show an average daily production of 2 016 000 barrels of oil, NGL and condensate, which is an increase of 235 000 barrels per day compared to October.

The 7th OPEC and non-OPEC Ministerial Meeting, hereby decided for an additional adjustment of 500 tb/d to the adjustment levels as agreed at the 175th Meeting of the OPEC Conference and 5th OPEC and non-OPEC Ministerial Meeting. These would lead to total adjustments of 1.7 mb/d. In addition, several participating countries, mainly Saudi Arabia, will continue their additional voluntary contributions, leading to adjustments of more than 2.1 mb.

The worldwide rig count for November 2019 was 2,042, down 81 from the 2,123 counted in October 2019, and down 224 from the 2,266 counted in November 2018.

U.S. Rig Count is down 3 rigs from last week to 799, Canada Rig Count is up 12 rigs from last week to 138,

The group of more than 20 producers is considering an extra 500,000 barrels per day (bpd) in cuts for the first quarter of 2020 to take the total to 1.7 million bpd, or 1.7% of global demand, Russian energy minister Alexander Novak said

У России есть все необходимые конкурентные преимущества для того, чтобы обеспечить себе лидирующие позиции на мировом рынке водородной энергетики: это наличие резервов производственных мощностей, географическая близость к потенциальным потребителям водорода, а также наличие действующей инфраструктуры транспортировки.

They believe relentless US oil production growth will slow rapidly next year.

Russia, a key non-OPEC ally, has so far opposed deeper cuts or a longer extension. But Moscow has often taken a tough stance before every meeting before approving the policy. Sources said Saudi Arabia was working on convincing Russia.

The essential role of natural gas in the attainment of UN Sustainable Development Goals, in particular Goal 7, as an environmentally friendly, affordable, reliable, accessible and flexible natural resource for ensuring economic development and social progress

“За почти два десятилетия ФСЭГ превратился в солидную международную организацию, помогающую газодобывающим государствам сообща продвигать свои интересы на глобальных рынках. Мы ожидаем, что в грядущие годы Форум будет играть возрастающую роль площадки для обмена мнениями, единой платформы для продвижения природного газа на мировой арене и «сверки часов» ведущих производителей газа, от которых зависит стабильность газового рынка и его будущий облик”, - подчеркнул Александр Новак.

Александр Новак и Мохаммед Баркиндо обсудили текущее взаимодействие России и Организации на международном треке, а также в рамках соглашения ОПЕК+.