Ithaca Energy Ltd., a subsidiary of Delek Group Ltd., will acquire Chevron North Sea Ltd. (CNSL) for $2 billion, adding 10 producing field interests to Ithaca’s existing portfolio, four of which relate to assets operated by Ithaca.

Brent crude futures were at $69.03 per barrel at 1325 GMT, down 42 cents, or 0.6%, from their last close. WTI crude futures were up 23 cents, or 0.4%, at $59.04 a barrel, supported by expectations of a fall in U.S. crude inventories.

To put these two things together, the shale oil affecting both the volume of export and the price, plus the developments in clean technologies, tell me that for those countries who meet in Vienna, it has never been more important for them to diversify their economies. We have seen in Algeria, for example, one of the main reasons is the low oil price and the impact on the economy, and the same with Venezuela and elsewhere.

Russia’s recent oil output is below the 11.18 billion bpd target Moscow has pledged as part of an international deal among producers to curb production to support prices.

Brazil has seen its exports of crude grow from 734,000 b/d in 2015 to 1.3 million b/d in Q1 of this year. In contrast, Mexico, which was once a powerhouse of oil production, has maintained its export status only through curtailment of domestic refining, not increased crude oil output.

Russia’s state-owned gas giant Gazprom increased its first-quarter net profit by 44 per cent over the previous year as higher gas prices offset lower gas export volumes.

Profit attributable to shareholders totaled RUB 149.2 bln, up 36.8% year-on-year. The growth was restrained with higher DD&A due to the launch of new production facilities.

Front-month Brent crude futures were at $69.53 a barrel at 0641 GMT, down 58 cents, or 0.8%, from last session’s close. U.S. West Texas Intermediate (WTI) crude futures were at $58.46 per barrel, down 70 cents, or 1.2%, from their last settlement.

Despite the classic “wildcatting” image of plucky entrepreneurs trying their luck, smaller, independent drillers are losing access to capital

Investments are now seen at a four-year high of 183.7 billion Norwegian crowns ($21.11 billion) in 2019, up from the 172.7 billion crowns seen in February, according to SSB, which collects the data from oil firms.

Canada is the second-largest importer of energy from the United States, in terms of trade value, behind only Mexico. Energy accounted for $84 billion, or 26%, of the value of all U.S. imports from Canada in 2018.

Spot Brent crude futures were firmer at $68.82 per barrel, 13 cents, or 0.2%, above their last close. WTI crude futures were at $58.43 per barrel at 0700 GMT, down 20 cents, or 0.3%, from their last settlement.

Venezuela's state-owned PDVSA exported 1.416 million barrels of combined crude and products in May to Cuba's state Cubametales, up from 355,000 barrels in April.

Brent crude futures were at $68.48 per barrel at 0654 GMT, up 72 cents, or 1.1%, from their last close, with prices underpinned by OPEC supply cuts and Middle East tensions. U.S. West Texas Intermediate (WTI) crude futures were up 66 cents, or 1.1%, at $58.57 per barrel.

Although compliance to the cuts had a slow start, OPEC's JMMC noted in a press release following their meeting in Jeddah, Saudi Arabia, that compliance had hit a record high of 168% in April 2019. Average conformity reached 120% since January 2019.