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Rigzone Industry News

1. Oil Settles Higher as Hormuz Risks Resurface

   Oil prices closed higher after the US warned ships to avoid Iranian waters near the Strait of Hormuz.

2. OEUK Flags 'Prolonged Bout of Severe Weather' in North Sea

   'Although we get this sort of weather every two or three years or so, it can be quite uncomfortable', OEUK Health and Safety Manager Graham Skinner said.

3. Vitol Pushes Back Peak Oil Demand Forecast

   The world's largest independent oil trader Vitol Group said oil demand will take longer to peak than it previously estimated.

4. North America Increases Rig Count

   North America added one rig week on week, according to Baker Hughes' latest North America rotary rig count.

5. More Indian Refiners Take Venezuelan Oil

   Indian Oil Corp. and Hindustan Petroleum Corp. jointly bought a cargo of Venezuelan crude.