U.S. Rig Count is up 5 from last week to 453, Canada Rig Count is up 4 from last week to 59.

Brent was down $1.75, or 2.5%, at $67.57 a barrel. WTI was down $1.80, or 2.7%, to $64.28 a barrel.

For 2021, world oil demand is expected to increase by 6.0 mb/d, unchanged from last month’s estimate, to average 96.5 mb/d.

U.S. commercial crude oil inventories decreased by 0.4 million barrels from the previous week to 484.7 million barrels,

Brent climbed 18 cents, or 0.3% to $68.73 a barrel. WTI rose 20 cents, or 0.3%, to $65.48.

EIA forecasts that Brent prices will average $65/b in the second quarter of 2021, $61/b during the second half of 2021, and $61/b in 2022.

"Under the current OPEC+ production scenario, supplies won't rise fast enough to keep pace with the expected demand recovery," the IEA said. "The widening supply and demand gap paves the way for a further easing of OPEC+ supply cuts or even sharper stock draws."

U.S. Rig Count is up 8 from last week to 448, Canada Rig Count is up 4 from last week to 55,

Brent fwere up 1 cent at $68.12 a barrel. WTI eased by 2 cents to $64.69.

The Worldwide Rig Count for April was 1,189, down 43 from the 1,231 counted in March 2021