Brent gained 70 cents, or 0.85%, to $83.34 a barrel , WTI rose 79 cents, or 1%, to $82.13.

World oil demand growth in 2021 is revised lower by around 0.16 mb/d, compared to last month’s assessment, to stand at 5.7 mb/d.

At the end of 2019, combined oil output from ExxonMobil, BP, Shell, Chevron, TotalEnergues, Equinor, ConocoPhillips, and Eni stood at 13.3 million b/d, or about 13% of total global supplies,

U.S. commercial crude oil inventories increased by 1.0 million barrels from the previous week to 435.1 million barrels.

Brent gained 70 cents, or 0.85%, to $83.34 a barrel , WTI rose 79 cents, or 1%, to $82.13.

Brent were at $85.22 a barrel, WTI rose 16 cents, or 0.2%, to $84.31 a barrel.

We expect Brent prices will remain near current levels for the rest of 2021, averaging $82/b in the fourth quarter of 2021. In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining from current levels to an annual average of $72/b.

Brent rose 31 cents, or 0.4%, to $83.74 a barrel, WTI advanced 36 cents, or 0.4%, to $82.29

This year, demand for petroleum, both in the United States and globally, has largely returned to the pre-pandemic levels in 2019. Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products.

Brent was up by 86 cents or 1% at $83.60 a barrel, WTI gained 89 cents or 1.1% to $82.16.