Nigeria, South Africa, and Angola, the continent’s largest economies, are seeing a rebound from the sharp slowdown in 2016, but the recovery has been slow due to insufficient adjustment to low commodity prices and policy uncertainty. Furthermore, several oil exporters in the Central African Economic and Monetary Community (CEMAC) are facing economic difficulties.

West Texas Intermediate for May delivery rose as much as 38 cents to $52.62 a barrel on the New York Mercantile Exchange and was at $52.38 at 12:21 p.m. in Hong Kong, on course for its highest close since March 7. Total volume traded was about 2 percent above the 100-day average. The contract gained 54 cents to $52.24 on Friday. Brent for June settlement climbed as much as 28 cents, or 0.5 percent, to $55.52 a barrel on the London-based ICE Futures Europe exchange. Prices increased 35 cents to $55.24 on Friday. The global benchmark crude was at a premium of $2.55 to June WTI.

Iran’s crude oil export to India for the fiscal year 2016-2017 increased to 540,000 barrels per day showing a three-fold rise in comparison with the preceding year.

Ukraine's transit of Russian oil for exports to Europe in March rose 42% year on year to 1.25 million mt, state oil shipper UkrTransNafta said

API announced today that estimated total wells drilled and completed in the first quarter of 2017 saw an increase of 35 percent compared to the first quarter of 2016. This is a drastic improvement from 2016 levels which saw a 59 percent decrease in total wells drilled and completed from the previous year.

China was the top foreign buyer of US crude in February, according to data that show the growing interdependence of the world’s big energy-consuming nations at a time of heightened geopolitical tensions.

Brent crude futures were at $54.20 per barrel at 0708 GMT, down 16 cents, or 0.28 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 18 cents, or 0.35 percent, at $50.97 a barrel.

China's apparent oil demand rose 5.3% year on year in the first two months of 2017 to 11.65 million b/d on the back of robust economic growth, holiday transportation demand and efforts to build stocks ahead of the refinery maintenance season that started in March.

China, the world’s largest crude oil net importer, increased the share of its crude oil imports from countries outside the Organization of the Petroleum Exporting Countries (OPEC) in 2016. Of the country’s 7.6 million barrels per day (b/d) of 2016 crude oil imports, 57% came from OPEC countries, led by Saudi Arabia (13% of total imports), Angola (11%), Iraq (10%), and Iran (8%).

Brent crude futures, the international benchmark for oil, were at $54.52 per barrel at 0658 GMT, up 35 cents, or 0.65 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.65 percent, at $51.35 a barrel.

The Secretary General reiterated the commendable key role of Iraq, in particular HE Jabbar Al-Luiebi, that was instrumental within OPEC to achieve market stability for both producers and consumers and said Iraq has resumed its leading role in the Organization.

International benchmark Brent futures rose 3 cents, or 0.1 percent, to $53.56 a barrel by 0658 GMT. The March contract closed the previous session down 13 cents at $52.83 a barrel. U.S. West Texas Intermediate crude futures climbed 10 cents, or 0.2 percent, to $50.70 a barrel after settling 25 cents higher in the previous session.

Средняя цена нефти марки Urals по итогам января – марта 2017 года составила $ 52,04 за баррель.

Brent crude futures LCOc1, the international benchmark for oil, were at $52.70 per barrel at 0513 GMT, down 26 cents from their last close. In the United States, West Texas Intermediate (WTI) crude futures CLc1 were down 18 cents at $50.17 a barrel.

Front-month Brent crude futures, the international benchmark for oil, rose 29 cents, or 0.6 percent, to $51.62 per barrel by 0653 GMT. In the United States, West Texas Intermediate (WTI) crude futures were up 34 cents, or 0.7 percent, at $48.71 a barrel.