Next year, the global economy is forecast to return to growth, expanding by an estimated at 4.4%, and oil demand growth is expected to be high, in the tune of 6.1 mb/d.

The preliminary level for dry natural gas production in September 2020 was 2,678 billion cubic feet (Bcf), or 89.3 Bcf/d. This level was 5.4 Bcf/d (-5.7%) lower than the September 2019 level of 94.7 Bcf/d.

Santos upgraded its 2020 production guidance to 87-89 million barrels of oil equivalent (mmboe) and lowered its production cost guidance to $8.00-8.50/boe.

Australia and Santos are uniquely placed to offer reliable, zero-emissions energy products to Asian and domestic markets.

Brent dropped 46 cents, or 1%, to $47.72 a barrel . WTI fell 48 cents, or 1.1%, to $45.05 a barrel.

Saudi Arabia and Russia had invited ministers on the nine-country monitoring committee that they co-chair to informal discussions to hash out positions ahead of the official meeting.

The fact that US shale is not recovering strongly is further cause for Russia to continue to support ongoing cooperation within OPEC+.

Brent was down by 10 cents at $47.70 . WTI was down by 86 cents, or 1.9%, at $44.85.

Brent were down 1 cent at $48.60 a barrel . WTI was off by 4 cents at $45.67 a barrel.

"The macroeconomic situation has had a negative impact on the long-term development prospects of the LNG industry," Gazprom said, adding that so far in 2020 only one final investment decision had been made for a new LNG production project.

In the shale gas sector, the most affected player has been the United States, which accounts for about 95 per cent of global shale gas production. According to analysts, the growth rates of U.S. shale gas production may show a considerable decrease in the coming years.

U.S. commercial crude oil inventories decreased by 0.8 million barrels to 488.7 million barrels

U.S. Rig Count is up 10 from last week to 320 , Canada Rig Count is up 1 from last week to 102,

Brent was up 44 cents, or 0.9%, at $48.30 a barrel . WTI gained 33 cents, or 0.7%, to $45.24.

In the third quarter of 2020, profit attributable to shareholders amounted to RUB 50.4 bln as compared to a loss of RUB 18.7 bln in the previous quarter.