U.S. Rig Count is unchanged from last week at 254, Canada Rig Count is down 2 rigs from last week to 54

Brent was down 7 cents to $44.99 a barrel, WTI were down 3 cents to $43.01 a barrel.

Iraq's Ministry of Oil has announced finalised oil exports for July of 85,663,290 barrels, giving an average for the month of 2.763 million barrels per day (bpd),

ROSNEFT Net income in 2Q 2020 amounted to RUB 43 bln

ROSNEFT 1H 2020 LIQUIDS PRODUCTION AMOUNTED TO 4.34 MMBPD UNDER NEW OPEC+ AGREEMENT

Since the start of COVID-19 pandemic, LUKOIL has been undertaking necessary measures to rule out the direct impact of the pandemic on the Group's operating activity,

Brent rose 6 cents, or, 0.1% to $45.70 a barrel, WTI fell 8 cents or 0.2% to $43.31 a barrel.

U.S. commercial crude oil inventories decreased by 4.7 million barrels to 507.8 million barrels,

Brent rose 2 cents to $45.88 a barrel , WTI fell 3 cents to $43.32.

The US' crude oil imports to China were last highest in January 2018 when inflows hit 2.01 million mt, or 474,450 b/d.

“Although the market remains uncertain, we saw encouraging signs in July with gradual rebalancing of oil supply and demand,” API Chief Economist Dean Forman said. “Increases in U.S. refinery throughput and capacity utilization in July – coupled with inventories receding from record highs – has reinforced expectations for the continued demand recovery.”

Brent added 14 cents, or 0.3%, to $45.27 a barrel , WTI was down 4 cents, or 0.1%, at $42.58 a barrel.

Iraq is under US pressure to wean itself off Iranian electricity and gas imports, needed due to power shortages and flaring of associated gas, which is also bound by production limits due to the country's attempted adherence to OPEC+ production cuts.

Norway's preliminary production figures for July 2020 show an average daily production of 2 062 000 barrels of oil, NGL and condensate.

Brent was up 32 cents, or 0.7%, at $44.67 a barrel , WTI rose 31 cents, or 0.7%, to $42.65.