Iran, Russia and Turkey signed agreement on maintaining trilateral cooperation in developing oil and gas fields.

EIA continues to expect US production to rise over the next two years and cross the 10 million b/d threshold in November 2018. It sees output averaging 9.35 million b/d in 2017, up 20,000 b/d from last month's outlook, and 9.91 million b/d in 2018, up 10,000 b/d from last month.

Gerhard Schröder, the former German chancellor, looks set to deepen his already close ties with the Russian energy sector, after he was nominated as an independent director to the board of state-controlled oil company Rosneft.

New data suggests that in 2Q17 global stocks fell by 0.5 mb/d and preliminary data for July, particularly in the United States where stocks fell by 790 kb/d, is supportive. Even so, we must not forget that they are falling from a very great height in volume terms. At the end of 2Q17, OECD commercial stocks, which are the component of the global total for which we have the most visibility, stood at 3 021 million barrels, still more than 219 mb above the five-year average although they have now fallen below 2016 levels. As an exercise, if OECD stocks fell by 0.5 mb/d until the end of 1Q18 when the current output agreements expire they would still be about 60 mb above the five-year average.

Mergers among offshore oil drillers are raising hopes that consolidation could bring relief to a sector struggling to emerge from an industry downturn triggered by low crude prices.

Brent crude futures LCOc1 were at $51.02 per barrel at 0218 GMT, up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.70 a barrel, up 15 cents, or 0.3 percent.

To strengthen financial sector stability, Directors encouraged the authorities to take measures to bolster supervision, and move forward with plans to restructure the statemdash;owned banks that dominate the banking system. They also encouraged strengthening the legal framework of the Central Bank, eliminating a remaining exchange restriction and a multiple currency practice, and accelerating implementation of AML/CFT and antimdash;corruption measures. Directors considered that the peg to the U.S. dollar, which provides a key anchor to the economy, remains appropriate.

Средняя цена нефти марки Urals по итогам января - июля 2017 года составила $ 49,94 за баррель.

U.S. commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 8.9 million bbl for the week ended Aug. 11 compared with the previous week, the Energy Information Administration said in its weekly oil and products inventory report.

Shell has completed the sale of its 50% share in SADAF, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million. This sale was announced on 22 January 2017. Completion follows anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia.

API President and CEO Jack Gerard called President Trump’s executive order to streamline energy infrastructure an important step in speeding up projects, creating jobs, and improving government efficiencies in delivering energy Americans demand.

Председатель Правительства РФ Дмитрий Медведев подписал подготовленное Минэкономразвития России распоряжение о выдвижении кандидатов в совет директоров и ревизионную комиссию публичного акционерного общества «Нефтяная компания «Роснефть».

Indonesia's state-owned Pertamina has produced 343,000 b/d of crude oil in the first-half of 2017, up 12% year on year, upstream director Syamsu Alam said late Wednesday. "I think the crude production this year can meet our 2017 target of 354,000 b/d. But gas production may be ... lower compared with the target of 2.08 Bcf/d, due to lower demand and some gas fields [not being able to] produce," he said.

EBITDA growth by 2.9% Y/Y to RUB 639 bln Over fivefold growth in net Income Q/Q Sustainably positive free cash flow with a growth potential on the back of the key strategic project development

Brent crude LCOc1 was unchanged at $50.27 a barrel by 0845 GMT. U.S. light crude CLc1 was 5 cents lower at $46.73.

U.S. - Industrial production rose 0.2 percent in July following an increase of 0.4 percent in June. The index for mining rose 0.5 percent in July for its fourth consecutive monthly increase. Within mining, gains in oil and gas extraction and in metal ore mining were partially offset by declines in nonmetallic mineral mining and in drilling and support activities. The decrease of 0.5 percent in drilling and support services followed 10 consecutive months of increases for that index.

The Danish Straits and Turkish Straits, together transited by a combined volume of more than 5 million barrels per day (b/d) in 2016, are important chokepoints for Europe’s crude oil and petroleum liquids supply. Nearly 59 million b/d of global petroleum and other liquids production moved on maritime routes in 2015. Although most discussions of maritime chokepoints for oil trade focus on the Strait of Hormuz and the Strait of Malacca, which together were transited by a combined volume of more than 30 million b/d, other chokepoints are significant for specific regions.

Preliminary production figures for July 2017 show an average daily production of 2 000 000 barrels of oil, NGL and condensate, which is an increase of 93 000 barrels per day compared to June.

The Shell Petroleum Development Company of Nigeria Ltd joint venture has started production at Gbaran-Ubie Phase 2, a key project in Nigeria’s Niger Delta region.

Rosneft Successfully Closes Strategic Deal for the Acquisition of 49% of Essar Oil Limited