Northwest European gasoline refining margins dropped on Friday despite falling crude price but remained in positive territory boosted by maintenance and falling stocks in the United States. "Gasoline cracks are rising currently as run cuts, maintenance and gasoline demand takes hold as seen in our gasoline inventory data," Bernstein said in a research note.

Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan. European antitrust authorities plan to fine carmakers Daimler, BMW and VW up to 1 billion euros ($1.1 billion) each for colluding on reducing the effectiveness of exhaust filtering systems, German weekly Der Spiegel said.

Copyright Reuters, 2019