* Starts with one flight a day into each city. * Each flight will have a quota of 200 travellers. * No quarantine, subject to COVID-19 tests. By Farah Master and Chen Lin. A travel bubble between Hong Kong and Singapore will begin on Nov. 22, the two cities announced on Wednesday, as they moved to re-establish overseas travel links and lift the hurdle of quarantine for visiting foreigners.
* Lockdowns would hurt demand but vaccine brings hope. * Saudi Arabia says OPEC+ could hold back supply increase. By Laura Sanicola. Oil ended nearly 3% higher on Tuesday as hopes that a COVID-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus. Brent crude futures settled up $1.21, or 2.9%, at $43.61 per barrel.
U.S. oil prices fell in early trade on Tuesday as concerns over demand in the near term in coronavirus-hit economies in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine.
By Ron Bousso. Private equity-backed Mazarine Energy is seeking to sell up to half of its stakes in its Tunisian oil exploration licences to accelerate their development, its CEO told Reuters. Oil and gas producers and explorers have been hit hard by the slide in oil prices in the wake of the collapse in global demand because of the coronavirus epidemic.
U.S. energy firms this week added oil and natural gas rigs for an eighth week in a row for the first time since June 2018 as producers keep returning to the wellpad after crude prices held around $40 a barrel from mid June-late October.
Oil settled below $40 a barrel on Friday as rising global coronavirus cases stoked fears about lackluster demand and as drawn-out vote counting in the U.S. presidential election kept markets on edge. France reported record cases, intensifying concerns that additional lockdowns in Europe could weigh on demand.
U.S. frackers are bringing back equipment even as oil prices languish around $40 a barrel in a bid to boost production and tap into a backlog of drilled wells left uncompleted when oil prices crashed earlier this year.
U.S. shale producer Continental Resources Inc forecast a small uptick in production next year after a recovery in oil prices helped it reverse output cuts and as it eyes strong gas demand next year. Crude prices hit record lows in April as most countries went into coronavirus-induced lockdowns.
Contango Oil & Gas Co (MCF): * Contango Oil & Gas Co (MCF) - ON OCTOBER 30, ENTERED INTO THIRD AMENDMENT TO ITS CREDIT AGREEMENT, DATED AS OF SEPTEMBER 17, 2019. * Contango Oil & Gas Co (MCF) - AMENDMENT PROVIDES FOR AN INCREASE OF BORROWING BASE TO $130.0 MILLION Source text: [https://bit.ly/2Jxd9ku] Further company coverage:
U.S. oil producer Apache Corp (APA) said on Thursday it plans to keep project spending next year flat or slightly lower than this year's $1 billion spending rate, as the COVID-19 pandemic continues to slash global oil demand.
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