Brent crude futures were at $71.00 a barrel, up 38 cents, or 0.5%, from their last close by 0624 GMT. U.S. West Texas Intermediate (WTI) futures were at $61.73 per barrel, up 7 cents, or 0.1%, from their previous settlement.

OPEC's collective crude oil production in April held relatively steady from March, rising just 30,000 b/d to 30.26 million b/d,

Imports last month were 43.73 million tonnes, equal to 10.64 million barrels per day (bpd), according to data from the Chinese General Administration of Customs.

Net income for 43 U.S. oil producers totaled $28 billion in 2018, a five-year high. Based on net income, 2018 was the most profitable year for these U.S. oil producers since 2013, despite crude oil prices that were lower in 2018 than in 2013 on an annual average basis.

No liquefied natural gas (LNG) vessels that left the United States in March and April have gone to China, Refinitiv Eikon shipping data shows, as the trade war between the two nations escalates.

The main conclusion of the study was that reduction targets can be achieved even in a non-technology-specific scenario (Evolution) by using the networks. A GHG reduction of 55% by 2030 and 95% by 2050 (relative to 1990 levels) was achieved for the energy industry, buildings and industry €139 billion cheaper than in a highly regulated approach with electrification by means of heat pumps (Revolution).

Year-to-date, the goods and services deficit decreased $5.8 billion, or 3.7 percent, from the same period in 2018. Exports increased $14.0 billion or 2.3 percent. Imports increased $8.2 billion or 1.1 percent.

Electricity has well known limitations, mainly for bulk and long-range transport, industrial processes requiring high temperature heat, and the chemicals industry. To entirely replace fossil fuels we need hydrogen. It has an energy density comparable to hydrocarbons. There’s more: Europe’s electric grid can’t cope with 100% electrification, yet hydrogen would use the existing gas pipe networks. The authors lay out a plan to deliver 50% of Europe’s energy from hydrogen by 2050. Done rapidly at scale, hydrogen would soon be as cheap as gas. It will also make Europe the hydrogen market leader: what technologies Europe (or anywhere!) masters first, it can sell to the rest of the world hungry for clean energy solutions.

Rosatom expects to double revenue from its overseas business, from USD6.6 billion last year to USD15 billion by 2024,

Russian-built Bushehr 1 - the first nuclear power unit in the Middle East - was connected to the national grid on 3 September 2011. Bushehr units 2 and 3 are to be completed in 2024 and 2026, respectively.

BHGE - U.S. Rig Count is down 2 rigs from last week to 988, with oil rigs down 2 to 805, gas rigs unchanged at 183, and miscellaneous rigs unchanged at 0. Canada Rig Count is up 2 rigs from last week to 63, with oil rigs up 5 to 22 and gas rigs down 3 to 41.

Brent crude oil futures were at $69.94 per barrel, 6 cents, or 0.1 percent, above their last close. U.S. West Texas Intermediate (WTI) crude futures were at $61.56 per barrel at 0057 GMT on Wednesday, 17 cents, or 0.3 percent, above their last settlement.

Brent spot prices will average $70/b in 2019 and $67/b in 2020, compared with an average of $71/b in 2018.

Andriy Kobolev, head of state energy company Naftogaz Ukrayiny, said Ukraine will accumulate 20 Bcm of gas ahead of next winter, up from the 17 Bcm it usually has in underground storage facilities for the start of the heating season.

Investors with a long-term horizons could give a look to Energy Industry. According a Value Line Report on Petroleum Industry, Oil Price above $50 a barrel provide some assurance that existing dividend will be maintained.