Brent was up 2 cents at $62.97 a barrel. WTI gained 1 cent to $59.49 a barrel.

With the production gains, OPEC+ compliance with its quotas slipped to 111% in March, compared with 113.5% in February, juiced by Saudi Arabia voluntarily cutting an additional 1 million b/d since January.

President Biden’s American Jobs Plan proposes pumping $2.3 trillion into a slew of sectors over the next eight years.

The NSE Nifty 50 index was down 2.44% at 14,474.10 by 0440 GMT, while the S&P BSE Sensex was 2.42% lower at 48,374.94. The two indexes have now retreated 6%-8% from their mid-February record highs.

India has stockpiled a record 132 million tonnes of coal – enough to run India’s power plants for two months – greatly exceeding the average of the previous five years,

The answer lies, at least in part, in focusing on grid modernization, including the expansion of transmission capacity, increased use of energy storage systems, microgrids and digital solutions, and the adoption of a more coordinated national policy to make this possible.

U.S. Rig Count is up 2 from last week at 432, Canada Rig Count is down 11 from last week to 58

Brent edged down 12 cents, or 0.2%, to $63.08 a barrel. WTI was at $59.59 a barrel.

The blue-chip CSI300 index fell 1.5% to 5,035.34, while the Shanghai Composite Index eased 0.9% to 3,450.68.

Brent fell 51 cents, or 0.8%, to $62.65 a barrel. WTI fell 53 cents, or 0.9%, to $59.24 a barrel.

The pan-European STOXX 600 rose 0.5% by 0720 GMT, adding to gains made earlier this week when the index erased all of its pandemic-driven losses.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.1 billion in February, up $3.3 billion from $67.8 billion in January, revised.

U.S. commercial crude oil inventories decreased by 3.5 million barrels to 498.3 million barrels.

Brent rose by 34 cents, or 0.5%, to $63.08 a barrel. WTI was up 32 cents, or 0.5%, to $59.65.

EIA forecasts that Brent prices will average $65/b in the second quarter of 2021, $61/b during the second half of 2021, and $60/b in 2022.