U.S. Rig Count is up 7 from last week to 491, Canada Rig Count is down 1 from last week to 149.

Brent were up 60 cents, or 0.8%, at $74.72 a barrel , WTI were up 69 cents, or 1%, at $73.63.

U.S. commercial crude oil inventories decreased by 6.9 million barrels from the previous week to 445.5 million barrels.

Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.

We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).

Brent was up 74cents, or 1%, at $75.27 a barrel , WTI was up 88 cents, or 1.2%, at $74.25 a barrel,

The OPEC+ had failed to agree to increase production quotas from August onward after the UAE objected to Saudi Arabia's plan to tie the production increases to a lengthening of the supply management pact through to the end of 2022.

This comprehensive 397-page report concluded that there was no science-based evidence that nuclear energy does more harm to human health or to the environment than other electricity production technologies already included in the taxonomy and that the impacts of nuclear energy are mostly comparable with hydropower and the renewables, with regard to non-radiological effects.

Brent climbed 18 cents or 0.2% to stand at $77.34 a barrel, WTI were at $76.57 a barrel, up $1.41 or 1.9% from Friday’s close.

“The 18th OPEC and non-OPEC Ministerial Meeting has been called off,” OPEC Secretary General, HE Mohammad Sanusi Barkindo, said in a letter to Heads of Delegation of OPEC Member Countries and non-OPEC oil producing countries participating in the Declaration of Cooperation (DoC).

The Ministry of Energy and Infrastructure has affirmed that the UAE is a longstanding and committed member of OPEC, and OPEC+, and have been a reliable partner in the current OPEC+ agreement, delivering compliance of 103% throughout its 2-year term.

Brent was up 30 cents, or 0.4%, at $76.47 a barrel, WTI gained 32 cents, or 0.4%, to $75.48 a barrel.

"Recognising that many sustainable investors have exclusionary criteria in place around nuclear energy, the UK government will not finance any nuclear energy-related expenditures under the Framework."

The Worldwide Rig Count for June was 1,325, up 63 from the 1,262 counted in May 2021

U.S. Rig Count is up 5 from last week to 475, Canada Rig Count is up 10 from last week to 136.