Brent rose 8 cents, or 0.09%, to $93.25 a barrel, WTI was at $87.35 a barrel, up 4 cents, or 0.05%.

World oil demand growth in 2022 remained unchanged from the previous month’s assessment at a healthy level of 3.1 mb/d. For 2023, the forecast for world oil demand growth also remained unchanged from the previous month’s assessment to 2.7 mb/d.

Benchmark futures rose as much as 6.9%, a day after closing 4.2% higher. Authorities are designing measures designed to rein in an unprecedented energy crisis that has fueled inflation, hurt industry and left nations on the brink of a recession.

So far, in 2022, spot electricity prices are five to ten times higher than in previous years. On August 22, the daily spot market price for Germany exceeded 600 EUR/MWh, 15 times the average of the 2010s.

Digital transformation in oil and gas is more of a transformation problem than it is a digital one. Many executives are hesitant to invest heavily in digital transformation but continue to be hampered by the cost of poor quality.

The developed nations of Europe and the UK have played into the hands of Russia by closing coal and nuclear generation facilities and becoming dependent on renewables and Russian natural gas, rather than developing their own natural gas reserves.

Poland plans to have nuclear power from about 2033 as part of a diverse energy portfolio, moving it away from heavy dependence on coal.

The agreement provides for the development of a Comprehensive Plan for the creation of a mineral resource centre in Yakutia using electricity supplied by a low-power nuclear power plant based on two RITM-200N reactors. It outlined possible conditions for the implementation of the project on the principles of public-private partnership.

U.S. Rig Count is down 1 from last week to 759, Canada Rig Count is down 3 from last week to 205.

Brent rose $1.24, or 1.4%, to $90.39 a barrel, WTI climbed $1.05, or 1.3%, to $84.59.

Germany doesn’t support a price cap on Russia gas because some countries are still dependent on those supplies, Economy Minister Robert Habeck told reporters in Brussels.

Глава российского энергетического ведомства отметил, что в газовой сфере ключевым проектом остаётся газопровод «Сила Сибири-2», через который планируется поставлять газ через Монголию в Китай.

The Brent crude oil spot price averages $98 per barrel (b) in the fourth quarter of 2022 (4Q22) and $97/b in 2023.

Rosatom and Myanmar’s Ministry of Science and Technology and Ministry of Electrification have signed a Roadmap on cooperation in the field of the use of nuclear energy for peaceful purposes for 2022-2023 on the sidelines of the VII Eastern Economic Forum in Vladivostok.

U.S. commercial crude oil inventories increased by 8.8 million barrels to 427.2 million barrels.