U.S. Rig Count is down 13 rigs from last week to 266, Canada Rig Count is down 4 rigs from last week to 17

Brent rose 61 cents, or 1.5%, to $42.12 a barrel, WTI climbed 60 cents, or 1.5%, to $39.44 a barrel.

The dollar traded near a two-week high against a basket of currencies

Brent were up 2 cents at $40.73 a barrel, WTI dropped 14 cents to $37.82 a barrel.

World oil demand is projected to decrease by 9.1 mb/d in 2020, unchanged from the previous month’s assessment. The COVID-19 pandemic has negatively affected global economic activities, eliminating global oil demand growth potential and leading to a y-o-y decline of 6.4 mb/d in 1Q20 and by 17.3 mb/d y-o-y in 2Q20.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.2 million barrels from the previous week. At 539.3 million barrels, U.S. crude oil inventories are about 15% above the five year average for this time of year.

Due to the extended lockdown of the global economy, the solar market will experience a contraction in 2020 with its base-case scenario predicting 112 GW of new capacity instead of the 144 GW projected in last year's forecast.

At the close, the Shanghai Composite index was up 0.12% at 2,939.32, while the blue-chip CSI300 index was up 0.67%.

Brent was up 29 cents, or 0.7%, at $41.25 a barrel, WTI rose 17 cents, or 0.4%, to $38.55 a barrel.

Oil demand in 2020 is expected to fall by 8.1 mb/d, the largest in history, before recovering by 5.7 mb/d in 2021.

In 2019, U.S. coal consumption totaled 590 million short tons (MMst).

U.S. Total industrial production increased 1.4 percent in May

Of the top 25 solar power generating facilities in the US, 15 are located in California, four in Arizona, four in Nevada and two in Texas. Four of the top five solar facilities by sales volumes reported to FERC are located in California, while one is in Arizona.

MSCI’s broadest index of World shares crawled 0.2% higher, having climbed 2.2% the previous day to reclaim a good portion of the ground it lost last week.

China’s state-owned refining group Sinopec has commissioned a greenfield 200,000 bbl/d refinery in Zhanjiang