The US was prepared to sanction Rosneft if it continued to trade crude oil and fuel with PDVSA, but analysts said those sanctions have yet to be imposed because of the expected impact they may have on the global oil market.

Rosneft Oil Company and Indian Oil Corporation Limited (IOCL) signed a contract to supply up to 2 million tonnes of oil to India via the port of Novorossiysk by the end of 2020.

ConocoPhillips (NYSE: COP) reported fourth-quarter 2019 earnings of $0.7 billion, or $0.65 per share, compared with fourth-quarter 2018 earnings of $1.9 billion, or $1.61 per share.

NOV VARCO revenues for the full year 2019 were $8.48 billion, operating loss was $6.28 billion, and net loss was $6.10 billion, or $15.96 per share. Adjusted EBITDA for the full year was $885 million, or 10.4 percent of sales.

Brent were up 31 cents, or 0.6%, to $54.27 a barrel, WTI were up 21 cents or 0.4% to $49.82 a barrel

"Any overreaction...is not in the interest of the general public, let alone the oil market. We have the consensus that we would not like to see this."

Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz "thoroughly discussed" the current oil market conditions as prices have fallen by more than 20% in the past three weeks amid global oil demand concerns, a Kremlin statement said late Monday.

In 2018, while production was increasing, the total number of wells producing crude oil and natural gas in the United States fell to 982,000, down from a peak of 1,035,000 wells in 2014.

The question is whether the terms are attractive enough when nations are competing increasingly aggressively for investment from international oil companies (IOCs) and the potential demand destruction from the energy transition looms over the coming decades. The attractiveness of South Africa’s terms will have ramifications far beyond its borders.

BP profit was $19 million for the fourth quarter and $4.0 billion for the full year.

In the fourth quarter of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,388 thousand boe per day

Brent crude was at $56.44 a barrel, down 18 cents, or 0.3%, WTI crude rose 10 cents to $51.66 a barrel,

Brent were 68 cents higher at $58.97 a barrel, WTI were up by 70 cents to $52.84 a barrel

Saudi Arabia over-complied with its quota of 10.31 million b/d last year under the old agreement with the 23-member OPEC/non-OPEC coalition, collectively known as OPEC+, as the country made up for laggards Iraq and Nigeria, which flouted their quotas for most of last year.

Минэнерго России ведет планомерную работу с профильными ведомствами стран ЕАЭС по линии энергетики, добавил Александр Новак по итогам заседания.