U.S. Rig Count is up 389 rigs from last year's count of 539, with oil rigs up 311, gas rigs up 80, and miscellaneous rigs down 2 to 2. Canada Rig Count is up 47 rigs from last year's count of 165, with oil rigs up 22 and gas rigs up 25.

U.S. West Texas Intermediate (WTI) crude was at $51.01 per barrel at 0647 GMT, up 41 cents, or 0.8 percent, from its last settlement. Brent was at $56.58, up 33 cents, or 0.6 percent.

EIA forecasts Brent spot prices to average $52/b in 2017 and $54/b in 2018, which is $1/b higher in 2017 and $2/b higher in 2018 compared with last month's forecast. West Texas Intermediate (WTI) average crude oil prices are forecast to be $3.50/b lower than Brent prices in 2018.

Falling global crude oil stockpiles in 2017 will help put the market “roughly” into balance in 2018, but an increase in prices could be limited, especially if the Organization of Petroleum Exporting Countries doesn’t stick to its agreement to curb output, the International Energy Agency said.

A fresh wave of North American crude cargoes could reach the Far East in the coming months, with an estimated 6 million barrels or more of light sweet US grades loading in November expected to find a home in Asia as regional end-users step up efforts to find cheaper feedstocks amid sustained strength in the Middle Eastern crude complex, Asian trade sources said.

Brent crude futures, the international benchmark for oil prices, were trading at $56.75 per barrel at 0649 GMT, up 14 cents, or 0.25 percent, from their last close. Brent also rose 2 percent the previous day. U.S. West Texas Intermediate (WTI) crude futures were at $51.09 a barrel, up 17 cents, or 0.33 percent, from their last settlement. Prices rose 2 percent the day before to back above $50 a barrel.

"Ключевую роль играли две стороны — Россия и Саудовская Аравия как крупнейшие производители нефти в мире. Примерно 11 млн баррелей в сутки добывает Саудовская Аравия, Российская Федерация — чуть больше, мы занимаем первое место. "

Based on a “lower-for-longer” base-case scenario, global oil prices will remain in the $50-60/bbl range until late 2020, due to increasing supply that breaks even at $50/bbl, according to to the most recent global oil supply and demand outlook from McKinsey Energy Insights (MEI).

API announced that estimated wells completed in the third quarter of 2017 increased 63 percent compared to the third quarter of 2016. This includes a dramatic 84 percent increase for all oil wells completed from year-ago levels.

‘India's engagement with OPEC is important as India sources about 86% of crude oil, 75% of natural gas, 95% of LPG from OPEC Member Countries.’

Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в октябре 2017 года прогнозируется в размере +96,3 млрд руб.

“This transaction allows us to focus our efforts in Brazil on areas where we see the most strategic value for Shell longer-term,” said Shell’s Integrated Gas and New Energies Director, Maarten Wetselaar. “Brazil is an important country to Shell, and our portfolio of high quality assets and development opportunities positions us well for the future.”

Global benchmark Brent crude LCOc1 was down 2 cents at $55.60 a barrel at 11:31 a.m. EDT (1531 GMT). Earlier in the session it touched a three-week low of $55.06. It ended last week 3.3 percent lower, its biggest weekly loss since June 2017. U.S. West Texas Intermediate crude futures CLc1 were trading at $49.46, up 17 cents. They came close to a four-week low when they fell to $49.13 earlier in the session. WTI’s losses last week came to 4.6 percent.

"В рамках визита Короля Салмана Аль-Сауда был подписан большой пакет документов, что в полной мере способствует углублению взаимодействия в контексте задач расширения торгово-экономического, промышленного и инвестиционного сотрудничества между Россией и Саудовской Аравией, а также продвижения перспективных совместных проектов, в том числе в сфере энергетики», - подчеркнул Александр Новак.

Nasser said vast opportunities for collaboration between companies from Saudi Arabia and Russia are created by both the Kingdom’s existing economic pillars and the development and diversification envisaged by Saudi Vision 2030.