IMF - The UAE economy has been adapting well to a prolonged decline in oil prices since 2014. A gradual recovery in non-oil activity is under way. With oil production and government spending set to rise, overall growth is projected to strengthen to 2.9 percent this year and 3.7 percent next year. Inflation is projected at 3.5 percent this year owing to the introduction of the value-added tax and should ease afterwards. The fiscal deficit is expected to remain stable at about 1.6 percent of GDP this year and turn to a surplus next year. The current account surplus will exceed 7 percent of GDP this year.
U.S. EIA - US oil production average 10.964 million b/d in July. Production in July was up 1.73 million b/d from July 2017. U.S. natural gas production average 100,243 million cubic feet per day. Production in July was up 11,093 mcfd from July 2017.
PLATTS - Russia's Gazprom and five European energy companies are committed to fully financing Russia's 55 Bcm/year Nord Stream 2 natural gas link to Germany if no external financing is raised
MEOG - Chemicals company BASF and investment company LetterOne signed a transaction agreement to merge their respective oil and gas businesses in a joint venture, which will operate under the name Wintershall DEA.
REUTERS -India’s annual economic growth surged to a more than two-year high of 8.2 percent in the three months through June, giving Prime Minister Narendra Modi’s government a political boost in the final year of his term before elections.
BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,054, with oil rigs down 3 to 863, gas rigs up 3 to 189, and miscellaneous rigs up 1 to 2. Canada Rig Count is down 19 rigs from last week to 178, with oil rigs down 13 to 122 and gas rigs down 6 to 56.
API - “Placing constraints on exports of American-made energy works against America’s energy future,” said API Chief Economist Dean Foreman. “While the picture is still a bit muddied, it seems to be getting clearer – the trade war appears to be limiting the United States’ access to crude export markets. As we produce more energy here at home, the U.S. needs markets for its products in order for our economy to continue to grow. There’s no question that the 1.6 MBD increase U.S. petroleum net imports, which undid a full year’s worth progress, is a setback to the United States’ goal of energy dominance.”
BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 1,053, with oil rigs down 1 to 866, gas rigs unchanged at 186, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 29 rigs from last week to 197, with oil rigs down 13 to 135 and gas rigs down 16 to 62.
U.S. EIA - Second-quarter 2018 financial results for 45 U.S. oil exploration and production companies that the U.S. Energy Information Administration (EIA) regularly tracks reveal that most companies increased their capital expenditure budgets for 2018 compared with initial budgets made at the beginning of the year.
U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .
BAKER HUGHES A GE - U.S. Rig Count is up 7 rigs from last week to 1,055, with oil rigs up 7 to 867, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 22 rigs from last week to 226, with oil rigs up 15 to 148 and gas rigs up 7 to 78.
МИНЭНЕРГО РОССИИ - «Рынок АТР будет развиваться, а экономика региона расти более высокими темпами, чем в среднем по миру. Темпы увеличения энергопотребления в два раза превысят среднемировой показатель», - спрогнозировал Александр Новак.
МИНЭНЕРГО РОССИИ - «За 8 месяцев 2018 г. на 30,4% выросли поставки нефти в КНР и составили 26,12 млн тонн. Экспорт угля в первом полугодии увеличился на 8,6%, поставлено 12,89 млн тонн угля. Также в первом полугодии 2018 г. китайские потребители получили из России 1,38 млрд кВт ч. электроэнергии, что на 12,4% больше аналогичного показателя прошлого года», - сказал Министр.
U.S. EIA - EIA expects Brent spot prices will average $73/b in 2018 and $74/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019. NYMEX WTI futures and options contract values for December 2018 delivery that traded during the five-day period ending September 6, 2018, suggest a range of $56/b to $85/b encompasses the market expectation for December WTI prices at the 95% confidence level.