The Worldwide Rig Count for September was 1,853, up 28 from the 1,825 counted in August 2022,and up 405 from the 1,448 counted in September 2021.

U.S. Rig Count is down 3 from last week to 762, Canada Rig Count is up 2 from last week to 215.

Brent were down 25 cents, or 0.26%, to $94.17 a barrel, WTI were down 25 cents at $88.20 a barrel.

Excluding Russia's share of Kazakhstan's CPC Blend exports, Russian crude exports averaged 2.99 million b/d in the month, down 290,000 b/d on the August levels and lowest since September 2021 when global oil demand was still recovering from pandemic lockdowns

U.S. commercial crude oil inventories decreased by 01.4 million barrels to 429.2 million barrels.

Brent edged down 8 cents to $93.29 per barrel, WTI slid 15 cents to $87.61 per barrel.

China’s crude oil imports peaked in late 2020 and early 2021 before decreasing as a result of lower domestic demand and higher global crude oil prices.

Brent was down 23 cents, or 0.3%, at $91.57 a barrel, WTI fell 32 cents, or 0.4%, to $86.20 a barrel.

Gazprom PJSC said it has found a solution with Italian buyers to overcome the regulatory changes in Austria at the end of September that were preventing transit flows,

Brent was up 79 cents, or 0.9%, to $89.65 per barrel, WTI rose 60 cents, or 0.7%, to $84.23 a barrel.

Russia currently forecasts a further drop in Urals oil price over the next three years – to $70.1/b in 2023, $67.5/b in 2024, and $65/b in 2025. Its 2022 forecast is $80/b.

The current gas crisis also casts longer-term uncertainty on the prospects for natural gas, especially in developing markets where its use was expected to rise at least in the medium term as it replaced other higher-emission fossil fuels.

The halt in deliveries to Italy is the latest disruption to Russian gas flows to Europe after supplies were already halted via the Yamal-Europe and Nord Stream pipelines earlier this year and deliveries via Ukraine sharply curtailed.

According to preliminary data, Gazprom produced 313.3 billion cubic meters of gas from January through September 2022. This is a decrease of 17.1 per cent (or 64.8 billion cubic meters) versus the same period of last year.

Brent rebounded $2.36, or 2.8%, to $87.50 a barrel, WTI was up 2.9%, or $2.27, at $81.76 a barrel.