Brent rose 70 cents, or 0.8%, to $83.70 a barrel, WTI was at $76.89 a barrel.

Current hydrogen production technologies release significant carbon emissions, and up until now, cost has limited expansion to green hydrogen technologies.

Brent dropped 96 cents, or 1.13%, to $84.18 per barrel, WTI shed 97 cents, a 1.24% loss, to $77.52.

In October, OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have indicated they intend to leave the quotas unchanged throughout 2023, and the comments from Prince Abdulaziz bin Salman are the most emphatic to date.

U.S. commercial crude oil inventories increased by 16.3 million barrels to 471.4 million barrels.

Brent slid $1.13, or 1.3%, to $84.45 a barrel, WTI dropped $1.31, or 1.7% to $77.75.

Nonetheless, the IEA said global oil markets will likely remain in surplus in the first half of the year amid surprisingly robust output from Russia.

Brent fell 86 cents, or 1%, to $85.53 a barrel, WTI was at $78.83 a barrel, down 89 cents, or 1.1%.

Brent rose $2.17, or 2.57%, to $86.67 a barrel, WTI were up $2.01, or 2.57%, at $80.07.

Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.

U.S. commercial crude oil inventories increased by 2.4 million barrels to 455.1 million barrels.

Brent rose 99 cents, or 1.2%, to $84.68 a barrel, WTI climbed 93 cents, or 1.2%, to $78.07.

spot price of Brent crude oil falls to an average of $82/b in 2H23 and $78/b in 2024.

Brent rose 32 cents, or 0.4%, to $80.26 a barrel, WTI climbed 22 cents, or 0.3% higher, to $73.61.

OPEC+ is a 23-country bloc of oil producing countries co-chaired by Saudi Arabia and Russia. It agreed in October to slash quotas by 2 million b/d from November until the end of 2023.