There is no indication that such orderly liquidations would be offset by orderly installation of replacement facilities,

Preliminary production figures for July 2022 show an average daily production of 1 876 000 barrels of oil, NGL and condensate.

U.S. Rig Count is down 1 from last week to 762, Canada Rig Count is unchanged from last week at 201

Brent fell 36 cents, or 0.4%, to $96.23 a barrel, WTI was at $90.29 a barrel, down 21 cents.

Russia's crude exports rose by 140,000 b/d on the month to average 3.36 million b/d from Aug 1-16 to remain above pre-war levels for the fifth month in a row,

Brent fell 84 cents, or 0.9%, to $94.26 a barrel, WTI dipped 45 cents, or 0.5%, to $88.96 a barrel.

The price of OPEC basket of thirteen crudes stood at $100.04 a barrel

Средняя цена на нефть Urals за период мониторинга с 15 июля 2022 года по 14 августа 2022 года составила $83,06 за баррель, или $606,4 за тонну.

On the other hand, #BRENT has been clinging within the mid $90s/bbl range and having a price ceiling within the $101.35/bbl as the Tiltpoint.

Brent fell $1.14, or 1.2%, to $97.01 a barrel, WTI was at $91.03 a barrel, down $1.06, or 1.2%.

The price of OPEC basket of thirteen crudes stood at $103.20 a barrel

When Russia invaded Ukraine in March, things went from tightness of supply to impending disaster. Russia, through a complex network of pipelines, is the principal supplier of natural gas to Europe and all petroleum products to Germany. Now it has curtailed normal flows.

Berlin is already under serious pressure after Russia cut flows through Nord Stream 1, the key connector with Europe, which is currently running at just 20 per cent capacity.

The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income

U.S. Rig Count is down 1 from last week to 763, Canada Rig Count is down 2 from last week to 201.