Brent rose 21 cents to $84.87 a barrel, WTI ose 26 cents to $81.67 a barrel.

It should be noted that the high flying bulls on the Oil Market may be sublime in the long-run perspective of things as demand is drawing down inventories globally and refinery margins have come off.

The Worldwide Rig Count for June was 1,707, up 32 from the 1,675 counted in May 2024, and down 93, from the 1,799 counted in June 2023.

Brent edged up 47 cents or 0.5% to $86.71 per barrel, WTI climbed 43 cents or 0.5% to $83.24 per barrel.

Saudi Arabia has some of the biggest gas reserves in the world. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030.

Brent rose 40 cents, or 0.5%, to $85.41 a barrel, WTI gained 43 cents, or 0.5%, to $81.26 per barrel.

Russia was able to divert oil exports away from Europe to India and China, securing the much-needed financial flows for its budget, which is in deficit as Moscow spends heavily on defence and security.

Brent slid 40 cents, or 0.5%, to $84.84 a barrel, WTI were at $80.34 a barrel, down 39 cents, or 0.5%.

Changes including allowing full foreign ownership of renewable energy projects have already helped secure a pipeline of 99 gigawatts of wind and solar developments.

Brent rose 2 cents to $85.35 a barrel, WTI was down 6 cents to $81.51 per barrel.

The Worldwide Rig Count for May was 1,675, down 51 from the 1,726 counted in April 2024, and down 107,from the 1,782 counted in May 2023.

Brent lost 14 cents, or 0.17%, to $82.46 a barrel, WTI fell 16 cents, or 0.2%, to hit $78.34.

Согласно прогнозам ОПЕК+, спрос на нефть в 2024 году вырастет на 2,2 млн баррелей в сутки (б/с), до 102 млн б/с. «В перспективе до 2030 года, а это всего 6 лет, сегодняшние 102 млн б/с могут превратиться в 110 млн б/с или даже 115 млн б/с», – отметил Александр Новак.

In the conclusion of the St.Petersburg International Economic Forum,it is clear and evident that Russia has its hands firmly on the global economic growth steering wheel.Their calibration on the global compass remains top notch and success is all for the taking.

Brent were up 4 cents at $77.56 a barrel, WTI were flat at $73.25 a barrel.