The Worldwide Rig Count for August was 1,788, down 32 from the 1,820 counted in July 2023, and down 37, from the 1,825 counted in August 2022.

Brent was up 17 cents, also 0.2%, at $87/bbl, WTI up 13 cents, or 0.2%, at $83.76 a barrel.

The surge in new coal plant approvals, which began after power shortages last year, is raising questions about China’s commitment to that new role,

IT has enabled power companies to improve their operational efficiency by automating processes, reducing downtime, and minimizing errors.

Brent fell 16 cents, or 0.2%, to $83.20 a barrel, WTI fell 18 cents, or 0.2%, to $78.91 a barrel.

«Китай и Индия – наши стратегические партнёры в части выстраивания нового, справедливого энергорынка и торговой инфраструктуры. Россия остаётся крупнейшим поставщиком нефти в Китай и Индию, экспортируются и другие энергоносители – газ, уголь», –

Стороны обсудили возможности расширения сотрудничества в отраслях ТЭК, в том числе в нефтегазовой сфере, электро- и гидроэнергетике.

While South Africa and Russia back the addition of new members, India is wary of the group becoming a mouthpiece for China, and Brazil is worried about alienating the West.

Saudi Arabia's crude shipment to China are averaging 1.9 million b/d in August, up from 1.3 million b/d a month earlier, while Russia inflows are at 1.38 million b/d, up on month from 1.36 million b/d, according to Kpler shipping data. Imports from Saudi Arabia were at a 12-month low of 1.33 million b/d in July, while Russian shipments dropped to 1.91 million b/d in the month, the lowest since April, China General Administration of Customs data showed.

The Brent crude oil spot price averages $85 per barrel (b) in August. The Brent price averaging $86/b in the second half of 2023 (2H23).