Brent up 35 cents, or 0.8%, at $43.25 a barrel, WTI rose 38 cents, or 0.1%, to $40.67 a barrel.

In 2021, oil demand is forecast to partially recover from the current year to show historic high growth of 7.0 mb/d.

OPEC+ sources have said no recommendations have been made to prolong record cuts into August

Since the Arctic oil exports began, Gazprom Neft has delivered over 40 million tons of ARCO (Prirazlomnoye field) and Novy Port (Novoportovskoye field) to European countries.

Frederico Justus, President, International Operations, Weatherford, noted, “This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.”

Brent fell 44 cents to $42.28, WTI fell 44 cents to $42.28

Crude oil production from the major US onshore regions is forecast to decrease 56,000 b/d month-over-month in July from 7,546 to 7,490 thousand barrels/day, gas production to decrease 712 million cubic feet/day from 80,266 to 79,554 million cubic feet/day .

The key Joint Ministerial Monitoring Committee, co-chaired by Saudi Arabia and Russia, the two largest members of the coalition, will convene online July 15 and make a final recommendation.

Iraq affirmed its commitment to the OPEC+ cuts in a call with Saudi energy minister Prince Abdulaziz bin Salman, the two ministers said in a joint statement.

PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the second quarter and first half 2020.

U.S. Rig Count is down 5 rigs from last week to 258, Canada Rig Count is up 8 rigs from last week to 26

Brent was down by 73 cents, or 1.7%, at $41.62, WTI fell 83 cents, or 2.1%, at $38.79 a barrel

U.S. commercial crude oil increased by 5.7 million barrels from the previous week to 539.2 million barrels.

The intervention of the United States, the G-20 and other leading producing countries was vital in securing April’s historic production deal to rebalance and stabilize oil markets reeling from the pandemic.

Brent up 5 cents, or 0.12%, to $43.34, WTI dipped 14 cents, or 0.3%, to $40.76,