But Papa, boss of the world’s largest oilfield services company, expects U.S. output to grow by just 400,000 bpd in 2020 and by 100,000-500,000 bpd per year through 2025, depending on future oil prices.

Last year, China imported a record 506 million tonnes of crude oil, 9.5% above 2018’s level, according to data from the General Administration of Customs.

Brent was down 15 cents at $64.83 per barrel, WTI crude CLc1 was down 8 cents at $58.96 a barrel

Saudi Arabia, the world's biggest oil exporter, is in the midst of an OPEC+ agreement to cut 1.7 million b/d of crude from the market in Jan through to March.

I, DONALD J. TRUMP, President of the United States of America, find that Iran continues to be the world's leading sponsor of terrorism and that Iran has threatened United States military assets and civilians through the use of military force and support to Iranian-backed militia groups.

"At ADNOC we are well on track to increase crude oil production capacity to 4mbpd by the end of this year, and we made significant new discoveries last year that moved the UAE from the seventh to the sixth-largest in oil and gas reserves in the world," Al Jaber said.

The increase in spending to between 85 billion and 95 billion yuan ($12.34 billion to $13.79 billion) compares with 2019 capital expenditure estimated at 80.2 billion yuan, slightly more than previous expectations.

In the petrochemical and gas sectors, Abu Dhabi National Oil Company (ADNOC) signed deals with Indonesian companies PT Pertamina [PERTM.UL] and PT Chandra Asri Petrochemicals (TPIA.JK), UAE state news agency WAM reported.

Based on current policies, India’s energy demand could double by 2040, with electricity demand potentially tripling as a result of increased appliance ownership and cooling needs.

The Abu Dhabi National Oil Company, ADNOC, announced a set of comprehensive sustainability goals, extending its legacy of responsible oil and gas production and reinforcing its longstanding commitment to environmental stewardship.

U.S. Rig Count is down 15 rigs from last week to 781, Canada Rig Count is up 118 rigs from last week to 203

Brent were up 26 cents, or 0.38%, to $68.53, WTI gained 10 cents, or 0.16%, to $62.80 a barrel.

Средняя цена нефти марки Urals по итогам января – декабря 2019 года составила $ 63,59 за баррель.

The Norwegian Petroleum Directorate projects that the overall production of oil and gas in 2024 will be close to the record year 2004 – among other things due to Sverdrup and because the Johan Castberg field in the Barents Sea is scheduled to come on stream in 2022.

The worldwide rig count for December 2019 was 2,043, up 1 from the 2,042 counted in November 2019, and down 201 from the 2,244 counted in December 2018.