Brent crude futures were down 20 cents or 0.3% from the previous settlement at $58.29, WTI futures were at $54.69 per barrel

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 85,000 b/d month-over-month in August from 8,683 to 8,768 thousand barrels/day, gas production to increase 729 million cubic feet/day from 80,866 to 81,595 million cubic feet/day .

For the six months of 2019 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,352 thousand boe per day, which is 2.8% higher year-on-year. The increase was mainly driven by the development of gas projects in Uzbekistan, as well as oil production growth in Russia due to change in terms of the external limitations of Russian companies' production volumes.

International benchmark Brent crude futures were at $58.16 a barrel by 0829 GMT, down 37 cents from their previous settlement. U.S. West Texas Intermediate (WTI) futures were at $53.89 per barrel, down 61 cents from their last close.

Now, the situation of the oil demand growth is becoming even more uncertain: the US-China trade dispute remains unresolved and in September new tariffs are due to be imposed.

U.S. Rig Count is down 8 rigs from last week to 934, with oil rigs down 6 to 764, gas rigs down 2 to 169, and miscellaneous rigs unchanged at 1. Canada Rig Count is up 3 rigs from last week to 140, with oil rigs up 3 to 94 and gas rigs unchanged at 46.

Brent crude futures were at $57.80 a barrel by 0854 GMT, up 42 cents from their previous settlement. West Texas Intermediate (WTI) futures were at $52.80 per barrel, up 26 cents.

Saudi Aramco will cut customer allocations across all regions by a total of 700,000 barrels a day next month,

Brent crude had rebounded to $57.81 a barrel, up $1.58, or 2.81%, from its last close by 0634 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.61, or 3.15%, to $52.70 a barrel.

Russia expressed its readiness to cooperate with Turkey in its oil and gas explorations in the eastern Mediterranean.