If Nigeria and Libya restore production, the kingdom may need to cut twice as much. U.S. shale drillers also stand ready to fill any supply gap.

The court judgment released on Wednesday found that the companies owed nearly 484 billion CFA francs in royalties to the Chadian government. It did not explain why the penalties amounted to more than 90 times that amount.

Britain is estimated to have substantial amounts of shale gas trapped in underground rocks and the government wants to exploit it to help offset declining North Sea oil and gas output. It said the shale gas industry could create 64,000 jobs and help economic growth.

Last week, the Organization of the Petroleum Exporting Countries agreed to cut between 200,000 barrels a day and 700,000 barrels a day of their output to reduce a global oil glut. The 14-nation oil-producing group controls over a third of the world’s oil production, but said it also wanted non-OPEC producers to join the effort to curb output.

Brent LCOc1 traded at $52.11 at 1000 GMT, 40 cents down, after touching $52.84 earlier, two cents below the 2016 high. U.S. oil futures traded as high as $50.74 a barrel, a three and a half month high, before falling by 30 cents to $50.14 a barrel. On Thursday they settled at $50.44 per barrel - the first settlement above $50 since June 23.

Baker Hughes Inc., the services company that tracks drilling activity worldwide, said just 27 rigs operated last month in the North Sea, the lowest number since records started in January 1982. The previous low was set in October 1999, when oil prices plunged to $10 a barrel.

The worldwide rig count for September 2016 was 1,584, up 37 from the 1,547 counted in August 2016, and down 587 from the 2,171 counted in September 2015.

U.S. Rig Count is down 271 rigs from last year's count of 795, with oil rigs down 177, gas rigs down 95, and miscellaneous rigs up 1. Canadian Rig Count is down 15 rigs from last year's count of 180, with oil rigs up 13, and gas rigs down 28.

Global benchmark Brent crude futures LCOc1 reached a high of $52.57 a barrel, not far off a one-year high of $52.86 a barrel, by 1207, up 64 cents on Friday's close. U.S. futures CLc1 also gained ground, trading at $50.32, up 51 cents.

The minister "has affirmed the need to proceed forth with increasing oil and gas production through enhancing the national effort and those of the licensed companies for the remainder of 2016 and also for 2017," the statement said.

"Higher production from Libya, Nigeria and Iraq are reducing the odds of such a deal rebalancing the oil market in 2017," Goldman analysts said.

В 2016 году Роснефть, которая готовится ввести несколько новых месторождений и на долю которой приходится около 40 процентов всей российской добычи, серьёзно нарастит производство сырья после 203 миллионов тонн производства в 2015 году.

Министр энергетики Российской Федерации Александр Новак и Министр энергетики и природных ресурсов Турецкой Республики Берат Албайрак в присутствии Президента Российской Федерации Владимира Путина и Президента Турецкой Республики Реджепа Тайипа Эрдогана подписали Межправительственное соглашение о строительстве газопровода "Турецкий поток".

December Brent crude oil futures LCOc1 were down 42 cents at $52.72 a barrel by 1100 GMT, below Monday's one-year high at $53.73, but off an intraday low at $52.51, while U.S. futures CLc1 were down 43 cents at $50.92 a barrel.

«Мы поддерживаем инициативу ОПЕК по фиксации лимитов на добычу и рассчитываем, что на заседании ОПЕК в ноябре эта инициатива воплотится в конкретные договоренности. Россия готова присоединиться к совместным мерам по ограничению добычи, и призывает к этому других экспортеров нефти», – подчеркнул Владимир Путин.

Coordinated output curbs by Russia and the Organization of Petroleum Exporting Countries, who together pump about half the world’s oil, could boost fuel prices for consumers and revive the fortunes of a battered energy industry. While Putin’s comments are the firmest indication yet that such an agreement is possible, Russia is still pumping at record levels and has stopped short of a commitment to pull back. OPEC members also have many hurdles to overcome before implementing their first cuts in eight years.

Высокая оценка сделки инвестиционным сообществом связана не только с выходом объединенной компании в новые регионы производства и поставок нефти и нефтепродуктов, увеличением объема добычи жидких углеводородов ПАО «НК «Роснефти» на 10% и объема нефтепереработки на 20%, но и со значительным синергетическим потенциалом от оптимизации взаимных поставок нефти, транспортных и логистических затрат, снижения стоимости буровых услуг, совместного использования инфраструктуры добывающих активов, современных технологий и ноу-хау.

Стоимость декабрьских фьючерсов на нефть Brent на лондонской бирже ICE Futures к 14:35 мск увеличилась на $0,17 (0,33%) - до $51,98 за баррель. Цена фьючерса на нефть WTI на ноябрь на электронных торгах Нью-йоркской товарной биржи (NYMEX) поднялась к этому времени на $0,12 (0,24%) - до $50,3 за баррель.

Рост поставок в 2015 году по сравнению с 2014 годом составил 11,5%. С 1 января по 10 октября 2016 года экспорт российского газа в республику достиг 4,18 млрд куб. м, что на 23,8% больше показателя за аналогичный период прошлого года.

The world’s biggest energy user imported 33.06 million metric tons of crude in September, according to data released by the General Administration of Customs on Thursday. That’s about 8.08 million barrels a day. China’s net fuel exports were at 2.37 million tons last month, near the record 2.49 million in July.