Oil

The Saudis curtailed production by 420.000 barrels a day to 10.65 million last month.

In recent months. the Saudis increased production by more than 1 million barrels per day.

The two countries on Nov. 2 signed a bilateral agreement to settle oil trades through an Indian government-owned bank.

Brent is set to enter 2019 below $54 per barrel and is expected to trend lower amid surging US supply.

A possible trade deal between the United States and China is progressing well.

Venezuela continues its call to promote in OPEC fair prices in 2019.

The U.S. launched new sanctions on Iran’s petroleum sector on November 4.

Average US exports of oil products have risen 7% so far this year.

Producers are ready to renew the agreement or increase cuts in case the market does not balance.

India is one of the largest consumers of crude oil and Iran has been one of the key suppliers.