Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.

We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).

The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.

Brent was up 74cents, or 1%, at $75.27 a barrel , WTI was up 88 cents, or 1.2%, at $74.25 a barrel,

The OPEC+ had failed to agree to increase production quotas from August onward after the UAE objected to Saudi Arabia's plan to tie the production increases to a lengthening of the supply management pact through to the end of 2022.

This comprehensive 397-page report concluded that there was no science-based evidence that nuclear energy does more harm to human health or to the environment than other electricity production technologies already included in the taxonomy and that the impacts of nuclear energy are mostly comparable with hydropower and the renewables, with regard to non-radiological effects.

At the close, the Shanghai Composite index was up 0.66% at 3,553.72 and the blue-chip CSI300 index was up 1.13%.

Brent climbed 18 cents or 0.2% to stand at $77.34 a barrel, WTI were at $76.57 a barrel, up $1.41 or 1.9% from Friday’s close.

“The 18th OPEC and non-OPEC Ministerial Meeting has been called off,” OPEC Secretary General, HE Mohammad Sanusi Barkindo, said in a letter to Heads of Delegation of OPEC Member Countries and non-OPEC oil producing countries participating in the Declaration of Cooperation (DoC).

The Ministry of Energy and Infrastructure has affirmed that the UAE is a longstanding and committed member of OPEC, and OPEC+, and have been a reliable partner in the current OPEC+ agreement, delivering compliance of 103% throughout its 2-year term.

Средняя цена на нефть марки Urals в январе-июне 2021 года сложилась в размере $63,35 за баррель, в январе-июне 2020 года - $39,68 за баррель.

"China's domestic coal supply capacity continues to run low while power generation activities resume," energy and mineral resources ministry spokesman Agung Pribad said in a statement, adding demand also increased from Japan and South Korea.

Brent was up 30 cents, or 0.4%, at $76.47 a barrel, WTI gained 32 cents, or 0.4%, to $75.48 a barrel.

“Natural gas demand is set to rebound strongly in 2021 and will keep rising further if governments do not implement strong policies to move the world onto a path towards net-zero emissions by mid-century,” the IEA said in its latest gas outlook.

"Recognising that many sustainable investors have exclusionary criteria in place around nuclear energy, the UK government will not finance any nuclear energy-related expenditures under the Framework."