U.S. Rig Count is is down 0 from last week to 727, Canada Rig Count is up 14 from last week to 117.

Brent fell 85 cents, or 0.7%, to $116.76 a barrel, WTI slipped 88 cents, or 0.8%, to $115.99.

The price of OPEC basket of thirteen crudes stood at $114.62 a barrel on Thursday,

Therefore, July production will be adjusted upward by 0.648 mb/d as per the attached schedule.

India imported 54% of its oil needs and 56% of its gas needs in 2020. After coal (44%), oil represented 24% of the country’s total consumption in 2020, against 6% for natural gas. As of 2021, India's oil reserves are estimated at 4,530 mbl and its gas reserves at 1,372 bcm.

Israel’s proven gas reserves are very large, at a current estimated level of about 538 bcm (end of 2021). Production increased very rapidly from 2.5 bcm in 2012 to almost 13 bcm in 2020 (+23%/year on average, including +45% in 2020).

U.S. commercial crude oil inventories decreased by 5.1 million barrels to 414.7 million barrels.

Brent was down $2.07, or 1.8%, at $114.22 a barrel, WTI dropped $2.21, or 1.9%, to $113.05 a barrel.

The price of OPEC basket of thirteen crudes stood at $122.94 a barrel on Tuesday,

Средняя цена на нефть марки Urals в январе-мае 2022 года сложилась в размере $83,48 за баррель, в январе-мае 2021 года - $61,62 за баррель.

The Brent contract for July delivery expired on Tuesday at $122.84 a barrel, up 1%, WTI rose 37 cents, or 0.3%, to $115.04 a barrel.

India imported 84% of its oil needs and 54% of its gas needs in 2020. After coal (44%), oil represented 44% of the country’s total consumption in 2020, against 6% for natural gas.

Brent rose $2.31, or 1.9%, to $123.98 a barrel, WTI crude was trading at $119.34 a barrel.

The price of OPEC basket of thirteen crudes stood at $120.01 a barrel on Monday

Brent was up 47 cents, or 0.4%, at $119.90 a barrel, WTI jumped 72 cents, or 0.6%, to $115.79 a barrel.