About 600 million people in sub-Saharan Africa have no access to any form of electricity.

U.S. Rig Count is down 2 from last week to 254, Canada Rig Count is unchanged from last week at 52

Brent was down 18 cents, or 0.5%, at $39.88 a barrel, WTI dropped 14 cents, or 0.4%, to $37.16 a barrel,

The OPEC+ agreement called for a decrease in crude oil output by a combined 9.7 million b/d in May and June, a combined decrease of 9.6 million b/d in July 2020, and a combined decrease of 7.7 million b/d in August

Iraq's habitual non-compliance with its production quota has been a sore point within the OPEC+ alliance, with Saudi Arabia, Russia and others pressuring Iraq to improve its performance.

Brent fell 53 cents to $40.26 a barrel, WTI dipped 61 cents to $37.44 a barrel

EIA forecasts that consumption of petroleum and liquid fuels globally will average 93.1 million b/d for all of 2020, down 8.3 million b/d from 2019, before increasing by 6.5 million b/d in 2021.

Iraq imports gasoline and diesel to meet its needs and many of its refineries are either old, dilapidated or were damaged during the 2013-2017 war against the Islamic State.

Brent was down 19 cents, or 0.5%, at $39.59 a barrel, WTI was down 24 cents, or 0.7%, at $36.52 a barrel,

В абсолютных значениях спрос на углеводородные ресурсы в среднесрочной перспективе будет расти, и при изменении конъюнктуры на нефтегазовых рынках крайне важно иметь возможность оперативно нарастить добычу углеводородных ресурсов, чтобы сохранить и приумножить традиционно лидирующие позиции России на мировых энергетических рынках.

Brent fell 50 cents, or 1.2%, to $41.51 a barrel, WTI dropped $1.05, or nearly 3%, to $38.72.

Saudi Arabia and Russia agreed to further closely coordinate their work on production cuts, trade and investments.

Brent was at $42.11 a barrel, WTI skidded 64 cents, or 1.6%, to $39.13 a barrel

в июле нефтяной рынок достиг баланса, снижение спроса компенсировалось сокращением добычи, запасы нефти в странах ОЭСР снизились на 34 млн баррелей

"My forecast is that the average oil price will be $50-$55/b. But we should expect volatility in general," Novak said.