Oil

While OPEC considers withholding supply. U.S. crude oil production reached another record last week.

OPEC last sought to drive out shale producers by flooding the market with oil in 2014.

The flows resumed on Friday at a modest level of around 50.000-60.000 barrels per day.

Rosneft will work on increasing its market share if oil prices drop.

Iran is the third-largest producer of the oil cartel OPEC. providing more than 2 percent of global oil output.

Crude production from members of the Organization rose by 127.000 barrels a day in October.

The rig count is an indicator that U.S. crude production will increase further.

A possibility of oil production cut in 2019 looms large as OPEC and its allies are expected to meet in Abu Dhabi.

The United States this month imposed sanctions curtailing Iran'.s oil exports.

U.S. lawmakers have been discussing extending sanctions on Russia to energy and oil projects.