The U.S. goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February

Brent climbed 18 cents, or 0.3% to $68.73 a barrel. WTI rose 20 cents, or 0.3%, to $65.48.

EIA forecasts that Brent prices will average $65/b in the second quarter of 2021, $61/b during the second half of 2021, and $61/b in 2022.

"Under the current OPEC+ production scenario, supplies won't rise fast enough to keep pace with the expected demand recovery," the IEA said. "The widening supply and demand gap paves the way for a further easing of OPEC+ supply cuts or even sharper stock draws."

Libya pumped 1.12 million b/d in April, a fall of 70,000 b/d from March.

“Officials in the Philippines have endorsed a rapid buildout of LNG import infrastructure due to the anticipated depletion of the Malampaya deepwater development, the country’s only domestic source of natural gas, and high GDP growth expected over the next decade,”

Currently, renewables form 10% of India’s total power generation and that share will increase to 31% by 2030 with 450GW coming online.

The gist of the technical case for CCS in a hydrogen economy is that, so long as fossil fuels are available and deliver a high energy return on energy invested (EROEI), it is inherently cheaper and more efficient to produce hydrogen from fossil fuels by reforming, rather than by electrolysis of water.

U.S. Rig Count is up 8 from last week to 448, Canada Rig Count is up 4 from last week to 55,

Brent fwere up 1 cent at $68.12 a barrel. WTI eased by 2 cents to $64.69.

Russia, the largest non-OPEC partner in the alliance, has increasingly flouted its cap over the last several months, with its excess production soaring to 877,000 b/d.

The Worldwide Rig Count for April was 1,189, down 43 from the 1,231 counted in March 2021

Brent fell by 28 cents, or 0.4%, to $68.68 a barrel. WTI lost 31 cents, or 0.5%, to $65.32 a barrel.

Средняя цена на нефть марки Urals в январе-апреле 2021 года сложилась в размере $60,47 за баррель, в январе-апреле 2020 года - $41,04 за баррель.

The decline extends a volatile period for solar sector jobs, which have yet to return to a peak reached in 2016 before the U.S. imposed tariffs on foreign-made panels that increased prices.