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.

South African President Cyril Ramaphosa declared a state of disaster to enable the government to accelerate its response to an ongoing energy crisis, and said he’ll appoint a minister in his office who will focus on boosting the power supply.

The Foundation for Energy Security and Innovation (FESI) will support DOE to carry out its critical mission to ensure America's continued security and prosperity through transformative science and technology solutions.

When scientists are finished commissioning Frontier, which will be dedicated to such fundamental research, they hope to illuminate core truths in various fields—such as learning about how energy is produced,

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.

Eastern Operating Domain is a key project in developing railway infrastructure, and that it is necessary to use every opportunity to expand transport and traffic capacity in the Far East.

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.

The UAE's Minister of Foreign Affairs and International Cooperation Abdullah bin Zayed Al Nahyan, France's Minister for Europe and Foreign Affairs Catherine Colonna and India's Minister of External Affairs Subrahmanyam Jaishankar agreed to establish a formal trilateral cooperation initiative last September

Director general of Russia's nuclear power company Rosatom, Alexey Likhachov, said the agreement marked "a new chapter in the history of Russian-Myanmar relations, the 75th anniversary of which we are celebrating this year".

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

OPEC+ is a 23-country bloc of oil producing countries co-chaired by Saudi Arabia and Russia. It agreed in October to slash quotas by 2 million b/d from November until the end of 2023.