WorldOil OPEC, Russia said to see oil glut dissipating at a faster rate The latest discussions between OPEC and its oil-producer allies concluded that the supply glut is dissipating at a faster pace than previously anticipated, say people familiar with the matter. Oil trades near one-week high as stockpile gains slow down Oil in New York traded near a one-week high as improving sentiment in equities spilled over into crude and American stockpiles increased slower than forecast. Russia, Saudis may go beyond their oil alliance with LNG deal Russia and Saudi Arabia are seeking ways to amplify the success they’ve had working together to manage the oil market by reaching new energy agreements, including one on liquefied natural gas. Oil and Gas in the Capitals The changing energy landscape of the Middle East Oil bulls run scared in global volatility as U.S. rivals Saudis Oil enthusiasts are retreating as volatility takes hold of global markets and American gushers rival Saudi Arabia’s. Wood wins new contract delivering mega-project for Saudi Aramco Wood has secured a new multi-million-dollar, five-year contract to support Saudi Aramco in the delivery of one of its mega-projects in the Kingdom of Saudi Arabia. NAPE ‘18: Texas Railroad Commissioner Ryan Sitton forecasts strong U.S. supply growth to meet demand As murmurs of peak oil demand pervade the oil and gas industry, Texas Railroad Commissioner Ryan Sitton sees a different trend—rising production from the U.S. to meet inflating demand from non-OECD countries like China and India. Aramco's Asia light oil pricing steady in sign of slower demand Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand. OPEC, Russia sustain production as Saudi Arabia masks Venezuelan drop Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry. Biggest OPEC producer deals blow to tiny rival in top market Tiny OPEC producer Qatar is paying the price for top member Saudi Arabia’s oil strategy in Asia.