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

China energy intensity, which measures the amount of energy needed to generate one unit of GDP, decreased by 2.6% in 2019,

Chevron’s cuts equate to about 6,000 of its 45,000 non-gas station employees. It’s “streamlining our organizational structures to reflect the efficiencies and match projected activity levels,” the San Ramon, California-based company said Wednesday in a statement. “This is a difficult decision, and we do not make it lightly.”

Petronas plans to reduce its capital expenditures by 21% and its operating costs by 12% in 2020

Petronas Profit After Tax (PAT) for the quarter stood at RM4.5 billion, 68 per cent lower than the RM14.2 billion posted in the corresponding quarter in the previous year,

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.

Chevron Corporation (NYSE: CVX) reported earnings of $3.6 billion ($1.93 per share - diluted) for first quarter 2020,

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

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