Brent fell 86 cents, or 1%, to $85.53 a barrel, WTI was at $78.83 a barrel, down 89 cents, or 1.1%.

Benchmark futures are now trading just above €50, near the lowest levels since September 2021.

CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar.

China has imported about 2.3 million mt HSFO over December-January, about 235% higher compared to 687,000 mt during November-December, according to Kpler shipping data.

Brent rose $2.17, or 2.57%, to $86.67 a barrel, WTI were up $2.01, or 2.57%, at $80.07.

Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.

World electricity demand remained resilient in 2022 amid the global energy crisis triggered by Russia’s invasion of Ukraine. Demand rose by almost 2% compared with the 2.4% average growth rate seen over the period 2015-2019.

U.S. commercial crude oil inventories increased by 2.4 million barrels to 455.1 million barrels.

Brent rose 99 cents, or 1.2%, to $84.68 a barrel, WTI climbed 93 cents, or 1.2%, to $78.07.

India's oil imports from Russia are likely to continue to rise this year mainly because of the steeply discounted prices it is selling at, he said, and assuming there are "no further stringent actions by the Western countries targeting Russian oil."

spot price of Brent crude oil falls to an average of $82/b in 2H23 and $78/b in 2024.

По состоянию на 1 февраля 2023 г. объем ФНБ составил 10 807 595,0 млн рублей , что эквивалентно 155 297,8 млн долл. США.

Brent rose 32 cents, or 0.4%, to $80.26 a barrel, WTI climbed 22 cents, or 0.3% higher, to $73.61.

Ожидаемый объем дополнительных нефтегазовых доходов федерального бюджета прогнозируется в феврале 2023 года в размере -108,0 млрд руб.

An Institute for Energy Economics and Financial Analysis (IEEFA) analysis of the five projects that have been built or are under construction found the only common elements of the next-generation design are unanticipated issues that have led to costly delays and soaring price tags.