“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.

"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."

The Worldwide Rig Count for June was 1,325, up 63 from the 1,262 counted in May 2021

U.S. Rig Count is up 5 from last week to 475, Canada Rig Count is up 10 from last week to 136.

Brent were down 20 cents at $75.64 a barrel , WTI were down 15 cents at $75.08.

If agreed, the OPEC+ alliance's collective production cuts would shrink by about one-third by the end of the year to about 3.76 million b/d, from July's 5.76 million b/d.

Japan's Nikkei (.N225) was 0.3% lower while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in thin trade as Hong Kong markets were shut for a holiday.

Brent ended the session up 37 cents, or 0.5% at $75.13 a barrel, WTI settled up 49 cents, or 0.7% at $73.47 a barrel.

The pan-European STOXX 600 was up 1.0% after ending Wednesday with its fifth straight quarter of gains, and was set for its best session in more than a month.

U.S. commercial crude oil inventories decreased by 6.7 million barrels from the previous week to 452.3 million barrels.

Brent was up 25 cents, or 0.3% at $75.01 a barrel, WTI was up 41 cents, or 0.6% at $73.39 a barrel.