Brent climbed $3.74, or 3.5%, to $111.67 a barrel, WTI rose $3.98, or 3.8%, to $108.68.

The price of OPEC basket of thirteen crudes stood at $104.96 a barrel on Thursday, compared with $104.06 the previous day, according to OPEC Secretariat calculations

Preliminary production figures for February 2022 show an average daily production of 1 980 000 barrels of oil, NGL and condensate.

U.S. Rig Count is unchanged from last week at 663, Canada Rig Count is down 30 from last week to 176.

Brent rose 82 cents, or 0.8%, to $107.46 a barrel, WTI climbed $1.14, or 1.1%, to $104.12 a barrel.

U.S. commercial crude oil inventories increased by 4.3 million barrels from the previous week to 415.9 million barrels.

Brent gained $6.41, or 6.5%, to $104.43 a barrel, WTI was up $5.95, or 6.3%, to $100.99 a barrel.

The price for WTI, the U.S. benchmark, will average $113/b in March and $112/b for the second quarter of 2022.

Brent were last up $2.64, or 2.6%, at $102.55 a barrel, WTI rose $1.91, or 2%, to stand at $98.35 a barrel.

The 2022 forecast for global oil demand growth remains under assessment at 4.2 mb/d, with OECD forecast at 1.9 mb/d and non-OECD at 2.3 mb/d.

But getting Saudi Arabia and the UAE to agree to pump more crude would require them to break a more-than-five-year partnership with Russia that has forged strong ties beyond oil — an uncertain prospect as they increasingly look eastward for political allies.

Brent were down $8.90, or 8.3%, to $98 a barrel, WTI was down $8.97, or 8.7%, to $94.04 a barrel.

Brent were last down by $3.81 or 3.4% at $108.86 a barrel, WTI eased $3.85 or 3.5% to $105.48 a barrel.

U.S. Rig Count is up 13 from last week to 663, Canada Rig Count is down 11 from last week to 206.

Brent climbed $2.48, or 2.27%, to $111.81 a barrel, WTI were up $2, or 1.89%, to $108.02 a barrel.