If the Organization of Petroleum Exporting Countries maintains its output cuts and nothing changes elsewhere, demand should overtake supply in this year’s first half, generating an implied market deficit of 500,000 b/d.

Средняя цена на нефть Urals за период мониторинга с 15 февраля по 14 марта 2017 года составила $52,25775 за баррель, или $381,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 апреля 2017 года понизится на $2,1 и составит $88,9 за тонну.

U.S. Rig Count is up 313 rigs from last year's count of 476, with oil rigs up 244, gas rigs up 68, and miscellaneous rigs up 1. Canadian Rig Count is up 207 rigs from last year's count of 69, with oil rigs up 137, gas rigs up 68, and miscellaneous rigs up 2.

West Texas Intermediate for April delivery rose as much as 76 cents to $49.62 a barrel on the New York Mercantile Exchange and was at $49.41 at 10:08 a.m. in London. Total volume traded was in line with the 100-day average. Prices climbed $1.14 to close at $48.86 on Wednesday after falling almost 11 percent the previous seven sessions. Brent for May settlement advanced as much as 84 cents, or 1.6 percent, to $52.65 a barrel on the London-based ICE Futures Europe exchange. Prices rose 89 cents to $51.81 on Wednesday. The global benchmark crude was at a premium of $2.48 to May WTI.

Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast.

Saudi Arabia has sought to boost oil sales to China, the world's second-largest oil market, after losing market share to Russia last year, by working mostly with China's top three state oil firms.

U.S. West Texas Intermediate crude (WTI) CLc1 was down 7 cents at $48.33 a barrel, as of 0716 GMT. The contract ended down 9 cents in the previous session after touching its lowest since the end of November at $47.90. Brent crude futures LCOc1 gained 3 cents to $51.32 a barrel, having settled down 2 cents on Monday after dipping as low as $50.85.

"It became evident that U.S. shale oil output has become and will remain a new global oil price regulator for the foreseeable future," Rosneft said.

Compliance of the Organisation of the Petroleum Exporting Countries (OPEC) with an oil output cut exceeded a target, standing at 140% in February.

Rising oil production in the US, which Russia's energy ministry forecasts to grow by 400,000 b/d year on year in 2017, is being monitored, but it should not be considered separate from the global supply and demand balance, he said.

Rosneft and Demiroren Group Companies signed an Agreement on petroleum product supplies during 2018-2020.

U.S. Rig Count is up 288 rigs from last year's count of 480, with oil rigs up 231, gas rigs up 57, and miscellaneous rigs unchanged. Canadian Rig Count is up 217 rigs from last year's count of 98, with oil rigs up 152 and gas rigs up 65.

Brent crude oil was up 15 cents at $52.34 a barrel by 0900 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in its biggest percentage decline in a year. U.S. crude oil was up 15 cents at $49.43 a barrel. It fell below $50 on Thursday for the first since December. U.S. crude is on track for a drop of more than 7 percent this week, its biggest weekly fall for five months.

The United Arab Emirates (UAE) will comply fully with its OPEC commitment to reduce oil production by more than 139,000 barrels per day (bpd) in March and April, the Gulf OPEC member's energy minister Suhail said on Thursday.

US Census Bureau data showed US crude exports rising by 304,000 b/d to 746,000 b/d in January, which was followed by a report by the US Energy Information Administration showing US crude exports averaging 900,000 b/d in the four weeks ending February 24.