The target was confirmed alongside the publication, on Friday, of the terms of reference for the New Zealand Energy Strategy, which maps out the ambitions and next steps for shifting to a “high performing, low emissions” future.

U.S. Rig Count is up 2 from last week to 771, Canada Rig Count is down 6 from last week to 210.

Brent slipped 12 cents to trade at $92.26 a barrel, WTI were down by 11 cents to $84.40 a barrel.

Benchmark futures declined as much as 4.8% on Friday and headed for a third straight weekly loss.

Germany stuck to its refusal to cap gas prices and the 27 could only agree to disagree, declaring they will keep on examining options to put a ceiling on costs.

Sweden's six nuclear power reactors provide about 40% of its electricity. In 1980, the government decided to phase out nuclear power, but parliament repealed this policy in 2010.

The new agreement builds on the teaming agreement signed in November 2021 under which Hyundai E&C will perform the detailed design of the balance of plant and prepare the full plant construction specification for the SMR-160, which Holtec has been developing since 2010.

U.S. commercial crude oil inventories decreased by 1.7 million barrels to 437.4 million barrels.

Brent rose $1.33, or 1.4%, to $93.74 a barrel, WTI rose $1.43, or 1.7%, to $86.98 per barrel.

"If we continue to meet our savings target of at least 20% in Germany, if three LNG terminals start operating at the beginning of next year at the latest, and if the expected winter-related decline in imports and the rise in currently low exports remain moderate, then we can get through the winter without a national gas emergency," he said in a statement.