Most stock markets in the Gulf rose in early trading on Monday after lawmakers in Washington reached a tentative agreement on the U.S. debt ceiling deal, although concerns about more Federal Reserve interest rate hikes capped gains.
India's state-run Oil and Natural Gas Corp said oil output from the Sakhalin-1 project in Russia has bounced back to its plateau level of about 200,000 barrels per day (bpd) from zero, according to a company presentation.
The U.S. oil and gas rig count fell by 44 this month, the biggest drop in three years, after energy firms this week cut rigs for a fourth week in a row, energy services firm Baker Hughes Co said in its closely followed report on Friday.
ConocoPhillips said on Friday it was buying the 50% stake in the Surmont oil facility held by TotalEnergies' Canadian subsidiary for about $3 billion, giving it full ownership and elbowing away rival Suncor Energy.
Colombia's proven oil reserves grew slightly over the past year, the oil regulator announced on Wednesday, to reach 7.5 years-worth of consumption, as the country looks to certify more drilling targets, especially from offshore fields.