The Suez Canal and the SUMED Pipeline are strategic routes for Persian Gulf crude oil, petroleum products, and liquefied natural gas (LNG) shipments to Europe and North America.

Brent crude LCOc1 futures settled 54 cents higher at $62.47 a barrel. West Texas Intermediate crude CLc1 futures rose 33 cents to end the session at $55.63 a barrel.

Russian and Saudi Arabian companies are considering expanding existing energy cooperation to include new joint oil and gas, petchems and nuclear projects,

The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday.

European signatories to the Iran nuclear deal do not see Tehran's recent moves reducing compliance as significant and do not intend "for now" to trigger the agreement's dispute mechanism

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 49,000 b/d month-over-month in July from 8,497 to 8,546 thousand barrels/day, gas production to increase 745 million cubic feet/day from 81,213 to 81,958 million cubic feet/day .

the U.S. the number of yet-to-be-fracked wells hit 8,289 in May, up 22% in a year, according to the U.S. Energy Information Administration.

Preliminary production figures for June 2019 show an average daily production of 1 409 000 barrels of oil, NGL and condensate, which is a decrease of 184 000 barrels per day compared to May.

First half production of 37 mmboe was a record for Santos and 32% above the corresponding period.

Brent for September settlement rose 38 cents, or 0.6%, to $66.90 a barrel on the ICE Futures Europe Exchange. Prices are up 4.2% this week. The global benchmark crude traded at a $6.32 premium to WTI for the same month.

ADNOC Group CEO Dr. Sultan Al Jaber met with Russian Energy Minister Alexander Novak in Moscow as ADNOC looks to expand its partnership and investment base.

In 2019, the global oil demand growth forecast remains at 1.14 mb/d, with expectations for global oil demand to reach 99.87 mb/d. In 2020, the initial forecast indicates growth of around 1.14 mb/d y-o-y, as global oil demand is anticipated to surpass the 100 mb/d threshold on an annual basis, to average 101.01 mb/d for the year.

McDermott has won two engineering, procurement, construction and installation (EPCI) contracts from Saudi Aramco worth more than $4.5bn for the Marjan Increment Programme.

As part of its larger increment programmes for Marjan and Berri, Saudi Aramco has awarded Saipem two EPCI contracts worth more than $3.5bn.

WTI had climbed 93 cents, or 1.6%, to $58.76, having earlier risen to $58.84. Brent was up 70 cents, or 1.1%, at $64.86, after earlier touching $64.95.