The JMMC reviewed the crude oil production data for the months of November and December 2024 and noted the high overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC). The improved conformity further reaffirms the DoC countries’ shared objectives of unity and cohesion.

Brent fell 2 cents to $77.47 a barrel WTI were at $73.81 a barrel, up 4 cents, or 0.1%.

Brent were down 9 cents at $78.20 a barrel, WTI dipped 9 cents to $74.53.

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Brent rose 44 cents, or 0.5%, to $81.73 per barrel, WTI were up 62 cents, or 0.8%, to $79.3 a barrel.

The Worldwide Rig Count for December was 1,660, down 49 from the 1,708 counted in November 2024, and down 79, from the 1,739 counted in December 2023.

Brent fell 6 cents to $73.85 a barrel, WTI was down 11 cents at $70.60 a barrel.

Our forecast Henry Hub natural gas spot price: Nov. 2024 average: ~$2.10/MMBtu Rest of winter average: ~$3.00/MMBtu

Brent edged up 7 cents to $73.48 a barrel, WTI was at $70.11 a barrel, up 9 cents.

The Worldwide Rig Count for November was 1,708, down 46 from the 1,754 counted in October 2024, and down 86, from the 1,794 counted in November 2023.

Brent fell 6 cents, or 0.1%, to $72.03 per barrel, WTI lost 1 cent to $68.29 per barrel.

Brent rose 29 cents, or 0.4%, to $73.20 a barrel, WTI were at $69.2 a barrel, up 26 cents, or 0.38%.

The investment bank still sees Brent averaging $76 per barrel in 2025, but edged down its 2026 forecast to $71 per barrel on a 0.9 mb/d surplus.

Brent rose 16 cents, or 0.2%, to $72.97, WTI rose 16 cents, or 0.23%, to $68.91.

Brent rose 15 cents, or 0.2%, to $73.45 a barrel, WTI were at $69.31 a barrel, up 15 cents, or 0.2%.