Mozambique's GDP growth is projected to reach 5½ percent in 2020

Brent was down 43 cents at $61.85 a barrel , WTI slipped 22 cents to $56.55 a barrel.

Brent crude oil spot prices averaged $60 per barrel (b) in October, down $3/b from September and down $21/b from October 2018. EIA forecasts Brent spot prices will average $60/b in 2020, down from a 2019 average of $64/b. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020. EIA expects crude oil prices will be lower on average in 2020 than in 2019 because of forecast rising global oil inventories, particularly in the first half of next year.

Blistering growth in shale fields propelled U.S. crude output to a record 13 million barrels per day (bpd) this month.

A U.S. Climate Agenda recommends that a U.S. decarbonization strategy be guided by these key objectives: achieving net-zero emissions no later than 2050,

Delivering the opening keynote address, at the event, Dr. Al Jaber said the oil and gas industry is being disrupted by new technologies, new business models, new forms of energy and a new geopolitical order, with the rise of Asia.

Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century

«Наш торговый оборот за январь-август 2019 года достиг $1,47 млрд, что превышает показатели аналогичного периода 2018 года на 25,8%. Считаем, что необходимо и далее продолжать интенсивное взаимодействие, нацеленное на укрепление двустороннего сотрудничества между нашими странами», - подчеркнул глава Минэнерго России.

Ожидаемый объем дополнительных нефтегазовых доходов федерального бюджета, связанный с превышением фактически сложившейся цены на нефть над базовым уровнем, прогнозируется в ноябре 2019 года в размере +183,9 млрд руб.

China has been relying heavily on Saudi Arabia and Russia for its refinery feedstock requirements over the recent years, with both producers constantly switching between them the top supplier position to Asia's biggest energy consumer.

“Increased global and regional temperatures patterns, changes in precipitation amounts and seasonal distribution, a sea level rise, and changing characteristics of various extreme events such as increasing frequency, intensity, duration or even spatial extent of heat waves, droughts and storms, are forecast by most global and regional climate models,” said Loreta Stankeviciute, an IAEA energy systems analyst.

Energy demand in Africa grows twice as fast as the global average, and Africa’s vast renewables resources and falling technology costs drive double-digit growth in deployment of utility-scale and distributed solar photovoltaics (PV), and other renewables, across the continent.

Following a challenging period, the economy is recovering. Non-oil growth could exceed 1 percent in 2019 and pick up to around 3 percent next year, the fastest since 2016, on the back of Expo 2020 and fiscal stimulus. Overall GDP growth would register 2.5 percent in 2020.

Mexico's economy growth is expected to accelerate modestly in the near-term, reaching 0.4 percent in 2019, as macroeconomic policies become less contractionary. It is projected to recover to 1.3 percent in 2020 on the back of strengthening consumption and despite continued weakness in investment.

Global demand for energy is forecast to increase from nearly 286 million barrels of oil equivalent a day (mboe/d) in 2018 to more than 357 mboe/d in 2040, with average growth of about 1% p.a. In this period, energy demand in non-OECD countries is expected to increase by almost 75 mboe/d, while demand in the OECD is estimated to drop by around 3 mboe/d.