For the first quarter 2022 results, the post-tax impact from impairment of non-current assets and additional charges (e.g. write-downs of receivable, expected credit losses, and onerous contracts) relating to Russia activities are expected to be $4 to $5 billion.

Brent was down $2.08, or 2%, at $100.70 a barrel, WTI lost $2.19, or 2.2%, to $96.07.

The price of OPEC basket of thirteen crudes stood at $100.12 a barrel

Vladimir Putin likely sees the global energy shortage and lack of energy security as an opportunity to advance Russia’s interests in Ukraine, knowing that Europe has no other choice than to buy their petroleum.

A viable renewable energy backstop to oil & gas production does not now exist to guarantee Americans cost-effective, reliable, and 24/7 energy availability

U.S. Rig Count is up 16 from last week to 689, Canada Rig Count is down 13 from last week to 111.

Brent advanced by 16 cents, or 0.2% to $100.77 a barrel, WTI gained 35 cents, or 4%, to $96.37 a barrel.

OPEC's 13 members raised output by 60,000 b/d to 28.73 million b/d, but that was more than offset by a 160,000 b/d decline by the bloc's nine allies, who pumped 13.91 million b/d.

Novak is Russia's key negotiator in the OPEC+ group, which has resisted calls from consumers to increase production.

Nuclear's share of energy in the UK is currently about 16%, however almost half of the country's current capacity is due to be retired by 2025 and all but one of its reactors will retire by 2030.

U.S. commercial crude oil inventories increased by 2.4 million barrels to 412.4 million barrels.

Brent climbed $1.05 or 1.%, to $102.12 a barrel, WTI rose 86 cents, or 0.9%, to $97.09 a barrel.

The price of OPEC basket of thirteen crudes stood at $106.13 a barrel

Fuel oil represented the bulk of the exports to China, with 394,200 mt exported, 43.6% higher on the month. Diesel exports recorded similar growth of 39.5% to 343,100 mt. Bitumen and residue amounted to 18,700 mt, marking a 34.9% increase on February. Overall, 756,900 mt of oil products headed to China last month.

ExxonMobil plans to produce around 250,000 mb/d of oil starting in 2025.