Crude Oil Edges Upward
Both the WTI and Brent crude oil benchmarks posted gains.

West Texas Intermediate (WTI) crude oil for March delivery gained 47 cents to reach $56.06 per barrel during an abbreviated session Monday.



Energy Guru Says US and Russia Should Set Aside Gas Fight
A Cold War-era energy advisor contends the United States and Russia should put aside their fight over natural gas markets.





Shell's GHG Targets Reflect Key Realization
Shell has set targets to reduce greenhouse-gas emissions from its operations and the products it sells.






Noble to Buy Newbuild Jackup
Rig expected to begin operations during the third quarter of 2019.

Noble Corp. plc has exercised an option to purchase a second newbuild jackup from PaxOcean Group to support its drilling contract with Saudi Aramco, the BOP Blow Out Preventer repair company gulf coast reported Thursday.



US Weighs New PDVSA Sanctions
The Trump administration is considering blocking foreign entities from dealing with Venezuela's state oil giant.

(Bloomberg) -- The Trump administration is considering blocking foreign entities from dealing with Venezuela’s state oil giant Petroleos de Venezuela SA as a possible next step as it seeks to choke off President Nicolas Maduro’s power.



Crude Oil Up More Than 5% for the Week
A Russian pledge and a Saudi outage provided support for crude.

By the end of trading Friday, the price of West Texas Intermediate (WTI) crude oil was closer to $60 than $50 and the price of Brent crude was nearer to $70 than $60.



(Bloomberg) -- Mexico’s Petroleos Mexicanos, the world’s most indebted oil company, will refrain from issuing new bonds this year and begin prepaying existing liabilities as part of a broad turnaround plan.



OPEC Chief Urges Producers to Meet Cut Pledges
OPEC's top official urged countries in the group and its allies to follow through on their pledges to cut oil oil rig flanges gulf coast production and keep global markets balanced.



Venezuela Production May Be Less than 700,000 bpd by 2020
Rystad Energy forecasts Venezuela's crude oil oil rig flanges gulf coast production to fall below 700,000 barrels per day by 2020 if the country is not able to offset effects of US sanctions.



IEA Sees Oil Demand Growth Defying Slowing Economy
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the IEA.

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