Brent was down 15 cents, or 0.4%, at $38.58 a barrel, WTI was down 49 cents, or 1.3%, at $35.77.

The strategy involves removing parts and products made in hostile foreign countries, like China and Russia, from energy infrastructure and replacing them with local substitutes.

Российской Федерации потребуется ускоренный переход (модернизационный рывок) к более эффективной, гибкой и устойчивой энергетике,

Crude oil throughput at China's domestic refineries further recovered to 13.69 million b/d

Europe’s largest economy went into lockdown in March, with many firms halting production and shops closing. It is now facing its worst recession since World War Two after the economy contracted by 2.2% in the first quarter.

Iraq pumped 4.213 million b/d of crude oil in May, above its OPEC+ quota of 3.592 million b/d and exported 3.63 million b/d, oil marketer SOMO said on June 7.

Spot gold was down 0.7% at $1,718.13 per ounce as of 0929 GMT. U.S. gold futures slipped 0.8% to $1,722.70.

Once considered a bulwark against the forces of modernization, industry and technological change is pushing energy trading organizations to consider a number of strategic changes to their front, middle, and back office functions that optimally engage people and systems to navigate our VUCA world.

The energy value chain is very complex, from generation, to transmission, distribution, energy trading, and energy sales.

There has been no enforced shutdown of a nuclear power reactor due to the effects of COVID-19 on the workforce or supply chains