Preliminary production figures for August 2023 show an average daily production of 2 006 000 barrels of oil, NGL and condensate.

Brent rose 25 cents, or 0.3%, to $92.45 a barrel. WTI gained 29 cents, or 0.3%, to $91.08 a barrel.

Brent climbed 50 cents, or 0.5%, to $93.80 a barrel, WTI gained 63 cents, or 0.7%, to $90.26 a barrel.

Brent rose 28 cents to $90.92 a barrel, WTI edged 35 cents higher to $87.64.

As we come to the end of the Africa Climate Summit week in Nairobi, Kenya, a variety of discussions have taken place among various stakeholders and global citizens to explore different methods to reduce greenhouse gas emissions.

The Worldwide Rig Count for August was 1,788, down 32 from the 1,820 counted in July 2023, and down 37, from the 1,825 counted in August 2022.

Brent was up 17 cents, also 0.2%, at $87/bbl, WTI up 13 cents, or 0.2%, at $83.76 a barrel.

Brent fell 16 cents, or 0.2%, to $83.20 a barrel, WTI fell 18 cents, or 0.2%, to $78.91 a barrel.

Saudi Arabia's crude shipment to China are averaging 1.9 million b/d in August, up from 1.3 million b/d a month earlier, while Russia inflows are at 1.38 million b/d, up on month from 1.36 million b/d, according to Kpler shipping data. Imports from Saudi Arabia were at a 12-month low of 1.33 million b/d in July, while Russian shipments dropped to 1.91 million b/d in the month, the lowest since April, China General Administration of Customs data showed.

The Brent crude oil spot price averages $85 per barrel (b) in August. The Brent price averaging $86/b in the second half of 2023 (2H23).

Preliminary production figures for July 2023 show an average daily production of 2 036 000 barrels of oil, NGL and condensate.

Brent fell 4 cents to $86.36 a barrel, WTI were down 2 cents at $82.80 a barrel.

The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023.

The Worldwide Rig Count for July was 1,820, up 20 from the 1,800 counted in June 2023, and up 45, from the 1,775 counted in July 2022.

Brent rose 10 cents, or 0.1%, to $85.24 a barrel, WTI rose 17 cents, or 0.2%, to $81.72.