U.S. commercial crude oil inventories decreased by 7.2 million barrels from the previous week to 425.4 million barrels.

The Worldwide Rig Count for August was 1,434, up 54 from the 1,380 counted in July 2021,

U.S. Rig Count is down 11 from last week to 497 , Canada Rig Count is up 5 from last week to 152.

Brent gained 36 cents, or 0.5%, to touch $71.99 a barrel, WTI for October was at $68.81 a barrel, up 31 cents, or 0.5%.

In the second quarter of 2021, profit attributable to PJSC LUKOIL shareholders amounted to RUB 189.8 bln, which is 20.5% higher quarter-on-quarter.

Brent was down 21 cents or 0.3% at $72.49, WTI fell 50 cents or 0.7% to $68.24.

U.S. Rig Count is up 5 from last week to 508 , Canada Rig Count is down 9 from last week to 147.

Brent rose 98 cents, or 1.4%, to $72.05 a barrel, WTI climbed 93 cents, or 1.4%, to $68.35 a barrel.

OPEC, Russia and nine other countries agreed in July to increase crude production by 400,000 b/d starting August through the end of 2022, a quantity that many analysts said would be insufficient to meet demand in the short-term, given seasonal consumption patterns and the world's recovery from the pandemic.

U.S. commercial crude oil inventories decreased by 3.0 million barrels from the previous week to 432.6 million barrels.