Brent was unchanged at $37.84 per barrel, WTI for July delivery were at $35.53 a barrel

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.9 million barrels from the previous week. At 534.4 million barrels, U.S. crude oil inventories are about 13% above the five year average for this time of year.

The UAE, which pumped a record 4.1 million b/d in April, has also pledged to trim an extra 100,000 b/d in June, on top of its OPEC+ commitments,

U.S. Rig Count is down 17 rigs from last week to 301, Canada Rig Count is down 1 rig from last week to 20

Brent were down 2%, or 71 cents at $34.03 per barrel, WTI were down 3%, or 98 cents, at $31.83 a barrel

Russian President Vladimir Putin discussed the oil market with Saudi Arabia's Crown Prince Mohammed bin Salman on Wednesday

Santos today is pleased to announce it has completed the acquisition of ConocoPhillips’ northern Australia and Timor-Leste assets for a reduced purchase price of US$1.265 billion plus an increased contingent payment of US$200 million subject to a final investment decision (FID) on Barossa.

Brent fell 53 cents, or 1.5%, to $35.64, WTI was down 50 cents, or 1.5%, at $33.85.

Brent were up nearly 1.7%, or 61 cents to $36.14, WTI gained 3.4%, or $1.12, to $34.37 a barrel

Говоря о ситуации на рынке нефти, глава Минэнерго России отметил, что с рынка уже ушло около 14-15 млн б/с нефти с учетом сделки ОПЕК+, а также падения добычи в других странах. Пока профицит составляет около 7-12 млн б/с, но Минэнерго России рассчитывает, что в июне-июле рынок сбалансируется благодаря росту потребления.

The biggest independent shale oil groups in the US reported a record combined loss of $26bn in the first quarter

A U.S. ban on new offshore drilling in the Gulf of Mexico

Brent was up 6 cents, or 0.2%, at $35.19 a barrel, WTI had gained 27 cents, or 0.82%, at $33.52 a barrel.

Oil markets are being significantly disrupted due to global market dynamics and the coronavirus pandemic, the oil price crash was "causing financial and credit challenges, including oil company bankruptcies."

Putin ordered ministers to work out “special rates” that pipeline operator Transneft PJSC and Russian Railways JSC will charge for transporting crude and petroleum products