Khelil expects prices to increase to $70 to $80 a barrel or more after oil majors abandoned or shelved projects. Still, that rebound risks reviving U.S. shale drillers, said the two-time president of OPEC.

“We’re facing a chance of a lifetime to become a global pricing center for commodities,” Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the Shanghai Futures Exchange’s annual conference in the city on Wednesday. “On the way to realize this goal, we’ll see very intense competition. We have the advantage of trading size and economic growth, but our legislation is still not sound and we lack enough talent.”

Thanks to industry innovation and technological advancements, we’ve transitioned from an era of energy scarcity to an era of energy abundance. The new challenge is to keep moving forward, not backward. We must continue to think long term - continue to ensure access to new areas for safe and responsible energy development, and invest in reliable energy infrastructure - to protect U.S. consumers, businesses and national security for generations to come.

It was the sixth time Russia has moved to the top spot as China's crude supplier, since capturing that spot for the first time in May, 2015.

Brent LCOc1 fell 1.3 percent, or 64 cents, to $48.95 a barrel by 1031 GMT, retreating from the previous session's $50.51 peak, its highest since early November. U.S. crude CLc1 dropped 45 cents to $49.03 a barrel after touching $50.21 on Thursday, its highest since early October.

U.S. Rig Count is unchanged from last week at 404, with oil rigs down 2 to 316, gas rigs up 2 to 87, and miscellaneous rigs unchanged at 1. Canadian Rig Count is down 1 rig from last week to 43, with oil rigs down 2 to 14, gas rigs up 1 to 28, and miscellaneous rigs unchanged at 1.

Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago. For the first time next week, it can argue convincingly that its strategy of squeezing rival producers is succeeding.

Russia's Gazprom plans to export a record 165 billion cubic metres (bcm) of gas to Europe this year, the company's deputy chief executive Alexander Medvedev told reporters on Thursday.

The aggregate net debt of the 15 largest North American and European oil groups rose to $383bn at the end of March, up $97bn from 12 months ago.

Россия уже 20 лет является крупнейшим экспортером энергоресурсов на греческий рынок и обеспечивает 60 процентов потребностей Греции в газе и свыше 15 процентов в нефти.

Nigeria's crude oil and condensate production has fallen almost 50% from the start of the year to around 1.1 million b/d.

У CNPC уже есть доля в «Роснефти»: в 2006 г. компания купила 0,6% акций в ходе IPO. Текущая доля не раскрывается. CNPC – крупный покупатель российской нефти. В 2013 г. «Роснефть» и CNPC договорились об экспорте 365 млн т российской нефти в Китай в течение 25 лет – в дополнение к 300 млн т, которые были законтрактованы в 2009 г.

Oil futures jumped 31 percent this year, climbing above $50 a barrel last week, as U.S. crude stockpiles declined, trimming a glut. Robust demand in India and other emerging nations led the International Energy Agency in May to reduce its estimate of the global oil surplus for the first half. Brent last traded above $60 in July.

The parties discussed relevant cooperation issues, placing an emphasis on planned gas supplies to China via the eastern and western routes, as well as the prospects of collaboration in the field of underground gas storage, gas-fired power generation, and natural gas vehicles.

За 15 лет реализации договора о сотрудничестве между Россией и Китаем товарооборот между двумя странами увеличился в десять раз, приблизившись на пике к отметке 90 млрд долларов. И несмотря на то, что ввиду неблагоприятных мировых политических и экономических события по итогам 2015 года двусторонняя торговля сократилась на треть, темпы развития в ряде отраслей удалось сохранить, в частности, в энергетике.

Russia’s crude production continuing to grow this year by around 100,000 b/d or even slightly above this figure. The growth is supported by investments made in previous years.

Indonesia's oil and gas company PT Pertamina seeks the possibility to develop oil and gas fields in Iran and import liquefied natural gas (LPG) from the Middle East country.

Себестоимость добычи «Газпрома» остается самой низкой в мире: порядка $20 за 1000 куб. м, несмотря на то что компания вводит новые труднодоступные месторождения, рассказал зампред правления «Газпрома» Александр Медведев.

Chinese exports of diesel began to increase rapidly in 2015, driven by a structural shift in China's economy—which is reducing diesel demand—and by reforms in China's refining sector, which are contributing to increased refinery utilization and diesel production. These two factors have pushed Chinese net diesel exports higher, to more than 300,000 barrels per day in April.

US crude oil production in March averaged 9.127 million b/d, down from 9.133 million b/d in February and 9.648 million b/d in March 2015.