Bp returned to profit in the third quarter

Bp returned to profit in the third quarter. Bp reported an underlying replacement cost profit of $86m for the three months to September 30.

Norway has found oil in two exploration Wells in Canada

Statoil, a Norwegian oil company, has found oil in exploration Wells in Capa Hayden and Cumbrior in Canada. The depth of the two Wells is 1,000 meters and 600 meters, respectively.

OPEC+ may extend its agreement to cut output for another three months

Key OPEC+ policymakers Saudi Arabia and Russia are likely to push back production by three months, with a production review scheduled for March 2021. A meeting on November 30 is therefore most likely to extend the current output by three months.

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