Brent fell 63 cents, or 0.8%, to $81.54 a barrel, WTI lost 55 cents, or 0.7%, to $80.24 a barrel.

China has approved expansions at more than 153 coal mines, which could add 55 million tonnes of coal output in the fourth quarter, the National Development and Reform Commission (NDRC) said last month.

U.S. Rig Count is up 6 from last week to 556, Canada Rig Count is up 8 from last week to 168.

Brent gained 70 cents, or 0.85%, to $83.34 a barrel , WTI rose 79 cents, or 1%, to $82.13.

World oil demand growth in 2021 is revised lower by around 0.16 mb/d, compared to last month’s assessment, to stand at 5.7 mb/d.

At the end of 2019, combined oil output from ExxonMobil, BP, Shell, Chevron, TotalEnergues, Equinor, ConocoPhillips, and Eni stood at 13.3 million b/d, or about 13% of total global supplies,

U.S. commercial crude oil inventories increased by 1.0 million barrels from the previous week to 435.1 million barrels.

Brent gained 70 cents, or 0.85%, to $83.34 a barrel , WTI rose 79 cents, or 1%, to $82.13.

Prices of risky assets generally rose further, and most valuations are high relative to history

Brent were at $85.22 a barrel, WTI rose 16 cents, or 0.2%, to $84.31 a barrel.

We expect Brent prices will remain near current levels for the rest of 2021, averaging $82/b in the fourth quarter of 2021. In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining from current levels to an annual average of $72/b.

Brent rose 31 cents, or 0.4%, to $83.74 a barrel, WTI advanced 36 cents, or 0.4%, to $82.29

This year, demand for petroleum, both in the United States and globally, has largely returned to the pre-pandemic levels in 2019. Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products.

"About 50% of the incremental global natural gas demand will come from Asia by 2035, with China and India as the main engines to boost the development of the LNG market," Luo said.

Despite a brief Covid-related output dip, US LNG exports rose 31% in 2020 to hit an all-time high of 2.4 trillion cubic feet (Tcf).