Digital transformation in oil and gas is more of a transformation problem than it is a digital one. Many executives are hesitant to invest heavily in digital transformation but continue to be hampered by the cost of poor quality.

U.S. Rig Count is down 1 from last week to 759, Canada Rig Count is down 3 from last week to 205.

Brent rose $1.24, or 1.4%, to $90.39 a barrel, WTI climbed $1.05, or 1.3%, to $84.59.

The Brent crude oil spot price averages $98 per barrel (b) in the fourth quarter of 2022 (4Q22) and $97/b in 2023.

U.S. commercial crude oil inventories increased by 8.8 million barrels to 427.2 million barrels.

Brent was down $2.33, or 2.4%, to $93.41, WTI trading to $87.02, up 15 cents from Friday's close.

Revert to the production level of August 2022 for OPEC and non-OPEC Participating Countries for the month of October 2022 as per the attached table, noting that the upward adjustment of 0.1 mb/d to the production level was only intended for the month of September 2022.

Benchmark energy futures fell after jumping on Monday, with Dutch front-month gas losing as much as 13% and German year-ahead power falling 11%.

Brent advanced by $2.45, or 2.6%, to $95.47 a barrel, WTI was up $2.13, or 2.5%, at $89.

Gas prices surged more than 35% on Monday as traders reacted to Russia’s decision to keep its main gas pipeline shut indefinitely.