Oil

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.

EIA predicts that U.S. production will increase to 12 million barrels per day in the second quarter of 2019.

OPEC and Russia may use cuts to support $70 per barrel.

The next OPEC+ meeting is scheduled for 4 December.