NEW YORK, Nov 30 (Reuters) - Oil rose on Thursday after OPEC and non-OPEC producers led by Russia agreed to extend output cuts until the end of 2018, while also signalling a possible early exit from the deal if the buy Wellhead market overheats.

MEXICO CITY, Nov 30 (Reuters) - U.S. oil major Chevron Corp will focus on studying the geology of its block in Mexico's deepwater Gulf during the first four-year phase of its contract, rather than drilling new wells, a senior executive said on Thursday.

A total of $22 billion (GBP 17 billion) is forecast to be spent on decommissioning on the UKCS from 2017 to 2025, according to a new report from industry body Oil & Gas UK.

The UK government has lent its support to the UK’s shale gas industry in a recently published white paper.

The spike in oil prices since August provides U.S. producers an attractive opportunity to hedge their 2018 capital program.

Nov 29 (Reuters) - Africa focused Tullow Oil Plc said on Wednesday it refinanced $2.5 billion of loans borrowed against its oil and gas reserves.

NEW YORK, Nov 29 (Reuters) - Oil prices dipped on Wednesday in a volatile session buffeted by conflicting statements from oil ministers a day ahead of OPEC's meeting in Vienna, as members debate the path for an extension of the group's supply-cut agreement.

Nov 29 (Reuters) - U.S. crude oil stocks fell last week, led by the biggest fall in inventories at the Cushing, Oklahoma storage hub in eight years, while gasoline and distillate stockpiles rose, the Energy Information Administration said on Wednesday.

Statoil has announced that it will establish a new onshore integrated operations centre in 2018, which will ‘help increase safety, add value and reduce emissions’ from its installations on the Norwegian continental shelf (NCS).