The Worldwide Rig Count for January was 1,899, up 65 from the 1,834 counted in December 2022,and up 267, from the 1,632 counted in January 2022.

Brent fell 34 cents, or 0.4%, to $81.83 a barrel, WTI slid 37 cents, or 0.5%, to $75.51.

Делегаты встречи подтвердили свою приверженность плану сокращения добычи нефти на 2 млн баррелей в сутки, согласованному по итогам заседания 5 октября 2022 года.

JMMC reaffirmed their commitment to the DoC which extends to the end of 2023 as agreed in the 33rd OPEC and non-OPEC Ministerial Meeting (ONOMM) on 5th of October 2022,

Средняя цена на нефть марки Urals в январе 2023 года сложилась в размере $49,48 за баррель, что в 1,7 раз ниже, чем в январе 2022 года ($85,64 за баррель).

Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.

The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.

In 2022, the Government Pension Fund Global returned -14.1 percent, equivalent to -1,637 billion kroner.

U.S. commercial crude oil inventories increased by 4.1 million barrels to 452.7 million barrels.

Brent gained 8 cents, or 0.1%, to $85.54 a barrel, WTI rose 20 cents, or 0.2%, to $79.07 a barrel.

The cold spell next week signals the possibility of heavier withdrawals from the region’s gas storage sites, though inventories are still almost 73% full and well above average levels of the last five years.

Global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024.

Brent fell 74 cents, or 0.8%, to $85.92 a barrel , WTI was at $79.07 a barrel, down 61 cents, or 0.8%.

Benchmark futures fell as much as 3.5%. While the continent’s gas inventories dropped last week amid a cold spell, they are still far above historic averages.

Start of a new week at the months end has been very rangebound in terms of the price action on the Oil tabs. Previous week has been swings on the #BRENT & #WTI with an average of 3%(+/-) on the Bearish bias majorly as we approach the Globex Open.Asia session will shed light on the weekly movement.