Falling global crude oil stockpiles in 2017 will help put the market “roughly” into balance in 2018, but an increase in prices could be limited, especially if the Organization of Petroleum Exporting Countries doesn’t stick to its agreement to curb output, the International Energy Agency said. Source: News

Total SA has entered into an agreement with Gasored, a group of service station owners, to rebrand a network of 250 retail outlets in and around Mexico City under the Total brand. Source: News

Tullow Oil PLC has acquired 90% stakes in four onshore blocks in Ivory Coast. State oil company Petroci holds the remaining 10%. The four blocks—CI518, CI519, CI301, and CI302—cover 5,035 sq km on the coast of Ivory Coast, mostly west of Abidjan. Source: News

Tap Oil Ltd., Perth, reported that a two-well infill drilling program has begun in Manora oil field in the northern Gulf of Thailand concession G1/48. Tap Oil has a 30% interest in the field. Source: News

The post-storm-recovery trend of falling crude oil inventories and rising gasoline inventories continued during the week ended Oct. 6, according to US Energy Information Administration data. Source: News

Crude oil prices gained modestly for a third consecutive day on the New York market Oct. 11 with the November contract settling at $51.30/bbl. But prices fell again in early trading on Oct. 12. Source: News