Much of the world isn’t ready to follow US and European efforts to isolate President Vladimir Putin’s Russia.

The 25th batch of Russian electrical equipment was successfully delivered to the construction site of the international thermonuclear experimental reactor Iter in France,

Brent were down 51 cents, or 0.5%, at $94.41 a barrel, WTI was at $88.58 a barrel, down 43 cents, or 0.5%.

"Sakhalin-1 is a valuable non-Middle East source for Japan, which depends on the Middle East for 90% of its crude oil imports," said Haguida, the minister for economy, trade and industry.

Brent rose 10 cents, or 0.1%, at $96.88 a barrel, WTI was up 21 cents, a 0.2% gain, at $90.87.

Adjust upward the production level for OPEC and non-OPEC Participating Countries by 0.1 mb/d for the month of September 2022

While the U.S. and European Union have already moved to ban imports of Russian oil into their ports, officials are now scrambling to curb Russia’s revenue from its oil sales globally and also avoid soaring energy prices during a time of high inflation.

Energy consumer prices are rising at an annual rate of nearly 40 per cent in the eurozone and 57 per cent in the UK, reflecting the surge in wholesale gas and oil prices after Russia’s invasion of Ukraine. That is drastically eating into households’ disposable income.

The incentive to reduce gas consumption is huge after Putin reduced supplies to Germany via the Nord Steam 1 pipeline. The Dutch TTF gas contract, a European benchmark, is trading above 205 euros ($209) per megawatt hour, 10 times its average in the decade through 2020 and equivalent to about $350 per barrel of oil.

TotalEnergies said it would boost spending on short-cycle projects this year to help ease Europe's growing energy supply crunch. It expects its full-year capital spending to hit $16 billion in 2022 as it hopes to increase its sources of European natural gas and produce more LNG in the coming months.