Brent gained 80 cents, or 1.08%, to $74.70 a barrel, WTI gained 85 cents, or 1.21%, to $70.95.

Brent leapt $1, or 1.36%, to $74.56 a barrel, WTI spiked $1.07, or 1.53%, to $70.9.

Russia is now at a crossroads between a “soft” and “hard” economic landing next year,

Brent edged up 7 cents, or 0.1%, to $71.77 a barrel, WTI gained 8 cents, or 0.12%, to $68.25.

Global oil demand is now expected to grow by 0.9 to 1.2 million barrels per day (mbpd) in 2024, down from previous estimates of 1 to 1.3 mbpd, as per the poll.

"We can live through any price," Novak told Al Arabiya News in an interview published on Monday.

Brent increased 51 cents, or 0.71%, to $72.49 a barrel, WTI added 43 cents, or 0.63%, to $68.61 a barrel.

Energy ministry expected Russia to produce 540 million metric tons of oil in 2030 (10.8 million barrels per day), up from 531 million tons in 2023.

The shift in thinking represents a major change of tack for Saudi Arabia, which has led other Opec+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices.

Brent were up 69 cents, or 0.93%, at $74.59 a barrel, WTI rose 74 cents, or 1.05%, to $71.11.

Brent were up 99 cents, or 1.39%, at $72.05 a barrel, WTI rose $1, or 1.48%, to $68.67 a barrel.

In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024,

The Worldwide Rig Count for August was 1,735, up 22 from the 1,713 counted in July 2024, and down 53, from the 1,788 counted in August 2023.

Brent rose 19 cents, or 0.26%, to $72.88, WTI were up 22 cents, or 0.32%, to $69.37.

Our benchmark BRENT has slipped in further escalating talks of SPR replenishment vis a vis supply conversations amidst the Chinese Data and US PMI data.We are at the confluence of both head and tail winds friends.