Brent were down 68 cents, or 0.9%, at $74.50 a barrel, WTI dropped 65 cents, or 0.9%, to $70.72.

Global Energy Complex is still on positive gyrations with twists and turns within the ebbs and flows,Global Oil maintaining the low 70s support zone with jitters of breaks when you look at historical inventories data.

The Worldwide Rig Count for January was 1,696, up 36 from the 1,660 counted in December 2024, and down 87, from the 1,783 counted in January 2024.

Brent rose 32 cents to $74.61 a barrel, WTI was up 24 cents at $70.85 a barrel.

The JMMC reviewed the crude oil production data for the months of November and December 2024 and noted the high overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC). The improved conformity further reaffirms the DoC countries’ shared objectives of unity and cohesion.

Brent fell 2 cents to $77.47 a barrel WTI were at $73.81 a barrel, up 4 cents, or 0.1%.

Chinese customs also reported that for the ten-month period from January to October 2024, China-Russia bilateral increased by 2.8% compared to the same period in 2023.

Moscow has been India’s top crude oil supplier. India’s oil imports from Russia in April are at around 1.72 million barrels a day, their highest since July, according to online ship-tracking data.

The Ecuadorian Ministry of Energy and Mines has announced a US$42bn investment plan to boost oil production, natural gas and the country's energy infrastructure over the 2025-2029 period.

Brent were down 9 cents at $78.20 a barrel, WTI dipped 9 cents to $74.53.