The Worldwide Rig Count for November was 1,890, down 3 from the 1,893 counted in October 2022,and up 346 from the 1,544 counted in November 2021.

U.S. Rig Count is unchanged from last week at 784, Canada Rig Count is up 1 from last week to 195.

Brent crude futures were up 20 cents or 0.23% at $87.08 per barrel, WTI gained 6 cents or 0.07% to $81.28 per barrel.

In June the EU announced that, come December 5th, it would ban imports of Russian seaborne crude oil, which accounted for 2m barrels per day (b/d), or about 40% of Russia’s total crude exports, a year ago.

Средняя цена на нефть марки Urals в январе-ноябре 2022 года сложилась в размере $78,32 за баррель, в январе-ноябре 2021 года - $68,66 за баррель.

U.S. commercial crude oil inventories decreased by 12.6 million barrels to 419.1 million barrels.

Brent had firmed 70 cents or 0.84% to $83.73 per barrel, WTI climbed 56 cents or 0.72% to $78.76 per barrel.

Since Russia’s full-scale invasion of Ukraine in February 2022 and the reduction in natural gas pipeline imports from Russia that followed, European countries have reactivated development of previously dormant regasification projects and have started development of new projects.

Brent dropped $2.16, or 2.6%, to trade at $81.47 a barrel, WTI slid $2.08, or 2.7%, to $74.20 a barrel.

OPEC+ agreed on Oct. 5 to slash its production quotas by 2 million b/d starting in November, saying it was a "technical decision" aimed at averting the impact of a potential global recession.

China and India now purchase two-thirds of all the crude exported by sea from Russia; at least half of the crude exported by pipeline from Russia also goes to China.

The 2023 contractual expiries represent roughly 8% of Japan's annual LNG imports of around 74 million mt, a level that will likely be difficult to replace with incremental supply from other long-term term contracts and short-to-mid-term contracts amid tight LNG markets.

Brent rose by 41 cents, or 0.48%, to trade at $85.75 a barrel, WTI went up by 57 cents, or 0.73%, from Wednesday's close to $78.51 a barrel.

Failure to reach a deal would send a signal that the EU’s united response to the war-driven energy crisis is falling apart -- a political gift for Moscow that Europe is keen to avoid.

U.S. commercial crude oil inventories decreased by 3.7 million barrels to 431.7 million barrels.