U.S. commercial crude oil inventories decreased by 2.5 million barrels from the previous week to 413.4 million barrels.

Brent were down 15 cents, or 0.12%, at $121.45 a barrel, WTI fell 75 cents, or 0.65%, to $114.18 a barrel.

The price of OPEC basket of thirteen crudes stood at $116.94 a barrel on Wednesday,

По состоянию на 1 марта 2022 г. объем ФНБ составил 12 935 108,51 млн. рублей, что эквивалентно 154 821,6 млн. долл. США,

Brent were up 95 cents, or 0.82%, to $116.43 a barrel, WTI rose 73 cents, or 0.67%, to $110 a barrel.

Russia is one of the three largest crude oil producers in the world, after the United States and Saudi Arabia. European countries—which have not banned Russian energy imports—generally import more of Russia’s crude oil and petroleum products than the United States.

Russian Urals cargoes basis CIF Rotterdam were assessed at a new record low of Dated Brent minus $30.99/b and for CIF Augusta at Dated Brent minus $30.69/b March 23.

Brent fell $1.92, or 1.7%, to $113.70 a barrel, WTI slipped $2.82, or 2.5%, to $109.3.

"If oil is sold at a discount, then [consumers] will be happy to buy it. We will earn less, but we will be able to place oil," Novak said.

The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its full-year 2021 financial results, reporting that net income more than doubled year-on-year to $110.0 billion. Aramco declared a fourth quarter dividend of $18.8 billion, to be paid in the first quarter of 2022.

Brent climbed $3.74, or 3.5%, to $111.67 a barrel, WTI rose $3.98, or 3.8%, to $108.68.

The price of OPEC basket of thirteen crudes stood at $104.96 a barrel on Thursday, compared with $104.06 the previous day, according to OPEC Secretariat calculations

Russian inflows to China hit a nine-month low of 1.42 million b/d in February, down 26.1% year on year and more than 25% month on month.

Preliminary production figures for February 2022 show an average daily production of 1 980 000 barrels of oil, NGL and condensate.

U.S. Rig Count is unchanged from last week at 663, Canada Rig Count is down 30 from last week to 176.