China's previous record high was 13.84 million b/d in December 2019.

40 U.S. oil producers collectively wrote down $48 billion worth of assets in the first quarter of 2020.

China's GDP will return to pre-coronavirus levels by the end of the year, faster than any other major economy.

U.S. Total industrial production rose 5.4 percent in June after increasing 1.4 percent in May

The euro was last trading 0.1% down at $1.1401

Woodside decided to reduce its planned expenditure in 2020 by around 50% to AUD2.4bn (US$1.5bn)

Brent up 35 cents, or 0.8%, at $43.25 a barrel, WTI rose 38 cents, or 0.1%, to $40.67 a barrel.

In 2021, oil demand is forecast to partially recover from the current year to show historic high growth of 7.0 mb/d.

Spot gold was little changed at $1,808.85 per ounce by 0658 GMT. U.S. gold futures eased 0.2% to $1,808.40.

Gazprom's expectations for its realized European gas price for the year were also unchanged.

Brent fell 44 cents to $42.28, WTI fell 44 cents to $42.28

Crude oil production from the major US onshore regions is forecast to decrease 56,000 b/d month-over-month in July from 7,546 to 7,490 thousand barrels/day, gas production to decrease 712 million cubic feet/day from 80,266 to 79,554 million cubic feet/day .

The fact that we are seeing 20% to 30% capital cost cuts this year quite radically means that we will face huge volatility in the future, because these are supplies that will not be coming on time when demand will recover.

China Jan-June crude oil imports up 9.9%

After an 18% growth in 2018, the installed nuclear power capacity in China increased by 9% in 2019