Supply growth from nations outside the OPEC will be “just shy” of 500,000 barrels a day, an increase of 110,000 barrels a day from the agency’s forecast last month, it said Thursday. Russian production is likely to grow by 190,000 barrels a day, building on a 230,000-barrel increase in 2016.

International Brent crude oil futures LCOc1 were trading at $45.77 per barrel at 0743 GMT (2:43 a.m. ET), down 7 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading down 10 cents at $44.56 per barrel, weighed down by weakening U.S. demand.

Russian Energy Minister Alexander Novak said on Thursday global crude oil output could be frozen at November levels if the world's leading oil producers reach an agreement on Nov. 30.

Royal Dutch Shell Plc will invest $10 billion in Brazil over five years now that the country has increased opportunities for foreign companies in its oil industry, its chief executive officer said on Thursday.

“Eighty percent of voters support increased development of U.S. oil and natural gas resources including 71 percent of Democrats, 94 percent of Republicans and 76 percent of Independents,”

ConocoPhillips has set its 2017 capital expenditures guidance at $5 billion, down 4% compared with its 2016 guidance of $5.2 billion and less than half of its 2015 capex and investments that totaled $10.1 billion. The firm recently cut its 2016 capex from $5.5 million.

In 3Q 2016, the Company net profit was at RUB 26 bln. The decline was primarily driven by lower operating profit.

U.S. Rig Count is down 199 rigs from last year's count of 767, with oil rigs down 122, gas rigs down 78, and miscellaneous rigs up 1. Canadian Rig Count is unchanged from last year's count of 176, with oil rigs up 21 and gas rigs down 21.

ConocoPhillips plans conservative financial and operating programs in 2017, planning for a longer-than-expected $50/b oil world by reducing its capital budget 4%, growing production up to 2% and forging technologies to squeeze out the last smidgen of resource from existing assets.

After more than a decade, China has decided to restore tax rebates on exports of gasoline, gasoil and jet fuel, a sign that Beijing is more than comfortable with the domestic supply situation for oil products.

Brent crude futures LCOc1 were down 2 cents on the day at $44.73 a barrel by 1005 GMT (5:05 a.m. ET), while NYMEX crude futures CLc1 were down 6 cents at $43.35 a barrel.

The downturn produced a leaner, more efficient U.S. shale industry that was forced to develop and quickly adapt new technology to compete with conventional oil supplies during a two-year period of depressed prices.

The Organization of Petroleum Exporting Countries increased its crude oil output by 240,000 b/d during October to average 33.64 million b/d.

U.S. oil production down 20 tbd, gas production down 94 mcfd.

Nigeria aims to increase its crude oil output to 2.8 million b/d by 2019 and to 3 million b/d by 2020 from the current average of 2 million b/d, according to a short term policy document produced by the country's oil ministry.

Light, sweet crude for December delivery settled down 9 cents, or 0.2%, at $43.32 a barrel on the New York Mercantile Exchange, the lowest settlement since Sept. 19. U.S. oil fell as low as $42.20 a barrel, the lowest intraday price since mid-August, before a rebound throughout the afternoon. Brent, the global benchmark, fell 32 cents, or 0.7%, to $44.43 a barrel, its lowest settlement since Aug. 10.

Gazprom has terminated a shareholder agreement for Nord Stream 2, a joint venture to build a pipeline between Russia and Germany, circumventing Poland and other countries, Russian press agency TASS has reported.

Iranian President Hassan Rouhani has voiced Tehran's readiness for boosting energy cooperation with Moscow, underlining the presence of Russian companies in various energy sectors in Iran.

Средняя цена на нефть Urals за период мониторинга с 15 октября по 14 ноября 2016 года составила $44,98619 за баррель, или $328,4 за тонну.

The deal between Essar and a consortium led by Kremlin oil giant Rosneft (ROSN.MM) appeared dead in the water two months ago after Saudi state energy firm Aramco weighed in, according to seven Russia, India and Saudi-based industry sources familiar with or involved in the negotiations.