BAKER HUGHES A GE - The worldwide rig count for March 2018 was 2,179, down 92 from the 2,271 counted in February 2018, and up 194 from the 1,985 counted in March 2017.

BLOOMBERG - The global deal to rein in oil output has removed “85 percent of the problem” of oversupply, and OPEC and allied producers are seeking ways to cooperate after the agreement ends, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.

PLATTS - Russia is planning to fully comply with its commitment to cut oil output under the OPEC/non-OPEC deal this month, Russian energy minister Alexander Novak said Tuesday, the Prime news agency reported.

BLOOMBERG - Vietnam’s state-owned oil company said South China Sea tensions will hurt oil and gas exploration and efforts to attract foreign investment to offshore fields.

PLATTS - Iraq has adjusted its crude oil production capacity target and is now aiming to achieve 6.5 million b/d by 2022, oil minister Jabbar al-Luaibi said Monday.

STATOIL - Statoil has awarded drilling contracts to Archer, KCA Deutag and Odfjell Drilling for drilling, completion, intervention services, plugging, maintenance and modifications on 18 of Statoil’s fixed platforms.

OPEC President Says Russia Has Been 'Great Partner' on Cuts

EIA - US oil production averaged 9.964 million b/d in January, up nearly 1.14 million b/d compared with January 2017, but about 102,000 b/d below November's record domestic output,

REUTERS - Iraq exported 3.453 million barrels per day (bpd) of crude oil from its southern ports in March, slightly above the February average, the oil ministry said on Sunday.

SHANA - Leaders of the UAE, OPEC’s biggest producer Saudi Arabia and non-OPEC member Russia support extending energy cooperation beyond 2018. Cooperation on the part of a politically influential oil producer like Russia would add to the weight and influence of OPEC in global energy markets, both politically and in terms of decision-making.

REUTERS - The new tight oil and deep gas resource is expected to contain many times the amount of oil produced by Bahrain’s existing oilfields, as well as large amounts of gas, BNA reported.

МИНЭНЕРГО РОССИИ - «По итогам 2017 года в результате более высоких цен, чем в 2016 году, а они были выше почти на 11 долларов и составили в среднем 54,7 доллара за баррель нефти, бюджет Российской Федерации получил дополнительно порядка 1 триллиона 200 миллиардов рублей, компании получили около 500 миллиардов рублей. Общая экспортная выручка была выше примерно на 31 миллиард долларов именно по нефти и по газу в результате более высоких цен. Это позитивно повлияло, в том числе и на инвестиционные программы», - сказал Министр.

МИНЭНЕРГО РОССИИ - В Арктической зоне России сосредоточены значительные извлекаемые запасы углеводородного сырья: по нефти и газовому конденсату - почти четверть общероссийских запасов, по газу - более 70 процентов. В 2017 году в Арктике было добыто 96,2 миллиона тонн нефти (прирост на 3,8 процента к 2016 году) и 568,9 миллиарда кубометров газа (прирост на 9,6 процента).

REUTERS - “We are working to shift from a year-to-year agreement to a 10 to 20 year agreement,” the crown prince told Reuters in an interview in New York late on Monday. “We have agreement on the big picture, but not yet on the detail.”

REUTERS - OPEC, Russia and several other non-OPEC producers have curbed output since January 2017 to erase a global glut of crude that had built up since 2014. They have extended the pact until the end of 2018, and meet on June 22 to review policy.