A U.S. ban on new offshore drilling in the Gulf of Mexico

China's crude oil imports from Russia rose 17.7% year on year to 7.2 million mt or 1.76 million b/d in April,

TC Energy Corporation has completed the sale of a 65 per cent equity interest in the Coastal GasLink Pipeline Project

Brent was up 6 cents, or 0.2%, at $35.19 a barrel, WTI had gained 27 cents, or 0.82%, at $33.52 a barrel.

Oil markets are being significantly disrupted due to global market dynamics and the coronavirus pandemic, the oil price crash was "causing financial and credit challenges, including oil company bankruptcies."

Putin ordered ministers to work out “special rates” that pipeline operator Transneft PJSC and Russian Railways JSC will charge for transporting crude and petroleum products

The desperately needed shipments have caused a diplomatic standoff between the United States and Iran and Venezuela, which are under U.S. sanctions.

U.S. Rig Count is down 21 rigs from last week to 318, Canada Rig Count is down 2 rigs from last week to 21

Brent dropped $1.96, or 5.4%, to $34.10 a barrel, WTI declined by $2.41, or 7.1%, to $31.51.

"When it comes to oil, there are signs that the market has tightened in recent weeks. The OPEC+ agreement, voluntary cuts outside OPEC-++, and production shut-ins are working together to start to rebalance the market. This will take time. As economies begin to open up, demand will follow, but the path to the next normal is not a straight line," Dr. Sultan Al Jaber, CEO of ADNOC Group and UAE minister of state said.

India's oil demand is reaching 60% to 70% of normal

The return on equity for energy companies and U.S. manufacturing decreased to 6% and 13%, respectively, in 2019

Oilfield services companies have lost approximately 49% of their market capitalization since the beginning of this year.

Argentina's oil-producing provinces applauded the reference price as well as an elimination of the 8% export tax when Brent is less than $45/b.

Brent rose 42 cents, or 1.2%, at $36.17 per barrel, WTI climbed 40 cents, or 1.2%, to $33.89.