These curbs on supply have helped prop up the price of crude for the past 18 months but left Saudi Arabia, which has cut its production by 2mn barrels a day, shouldering most of the cost.

Brent fell 3 cents to $82.77 a barrel, WTI fell 11 cents, to $78.63.

Ample supplies have anchored international oil prices near $80 a barrel this year, even as conflict in the Middle East disrupts regional shipping.

Brent fell 30 cents, or 0.36%, to $83.35 a barrel, WTI dropped 28 cents to $78.59 a barrel.

Brent fell 35 cents, or 0.4%, to $81.27 a barrel, WTI declined 35 cents, or 0.5%, to $76.14 a barrel.

At the start of the month,we saw #Crudeoil longs data jump 17%, partly offsetting wrong-footed sales the previous week.Russia stated that the cut of 500k b/d to meet the quota expectations for the month of February as part of a package of cuts promised by the OPEC+.

Brent rose 30 cents or 0.36% to $82.64 a barrel, WTI were up 26 cents or 0.34% at $77.30.

Brent ticked down 11 cents to $83.45 a barrel, WTI rose 36 cents to $79.55 a barrel.

Russia would look at selling Sokol oil through trading firms to reduce surplus floating stocks in the Pacific. Selling via a trader will help Russia get steady payments, though that will reduce discounts for the buyer,

Brent were down 9 cents, or 0.1%, to $82.77 a barrel, WTI rose 4 cent to $78.07 a barrel.