The Worldwide Rig Count for December was 1,563, up 19 from the 1,544 counted in November 2021,and up 459 from the 1,104 counted in December 2020.

U.S. Rig Count is up 2 from last week to 588, Canada Rig Count is up 51 from last week to 141.

Brent rose 24 cents, or 0.3%, to $81.99 a barrel, WTI was up 22 cents, or 0.3%, at $79.12 a barrel.

Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of February 2022.

Brent fell 24 cents, or 0.3%, to $75.90 a barrel, WTI were down 97 cents, or 1.3%, at $72.82 a barrel .

With Russia nearing its maximum capacity and Nigeria, Angola and several other countries struggling to maintain output, OPEC+ sustainable spare capacity will shrink to just 1.2 million b/d by June, lessening the group's ability to offset disruptions.

The country's oil production is set to reach the pre-pandemic level by May next year, as the OPEC+ alliance continues to increase output monthly to meet rising demand.

Over January-November, India's crude imports rose 5.8% year on year to 191.8 million mt, or 4.2 million b/d.

Plasma Pulse Technology was invented at St. Petersburg State Mining University in Russia.

Brent slid 41 cents, or 0.5%, to $76.44 a barrel , U.S. markets are closed on Friday for the Christmas holiday.

U.S. Rig Count is up 7 from last week to 586, Canada Rig Count is down 34 from last week to 133.

Brent was up 19 cents, or 0.3%, to $75.48 a barrel , WTI were up 5 cents, or 0.1%, at $72.81 a barrel

Underlying oil demand fundaments remain strong going into 2022. Pent-up demand is already stretching supply lines to the limit while booster jabs and previous infections lower the chance of serious harm from the virus.

U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week to 423.6 million barrels.

Brent rose 1 cent, or 0.01%, to $73.99 a barrel, WTI rose 12 cents, or 0.1%, to $71.24 a barrel.