U.S. Rig Count is up 1 from last week at 403, Canada Rig Count is down 22 from last week to 141

Brent rose by 53 cents, or 0.8 %, to $68.77 a barrel. WTI rose by 53 cents, or 0.8 %, to $68.77 a barrel.

Overall conformity with the original decision was 103 per cent, reinforcing the trend of aggregate high conformity by participating countries.

Combined, the so-called OPEC+ alliance produced 37.83 million b/d, its lowest since October, the survey found, putting the group's compliance with its quotas at 113.5%.

Japan’s Nikkei rallied 1.02% on Tuesday afternoon, while MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.10% higher. Chinese blue chips added 0.03%, after earlier hitting their lowest level this year.

The Worldwide Rig Count for January was 1,183, up 79 from the 1,104 counted in December 2020, and down 890 from the 2,073 counted in January 2020.

Brent rose 83 cents, or 1.2%, to $67.57 a barrel. WTI were up 77 cents, or 1.2%, to $64.60 per barrel.

According to the agreement, the OPEC+ alliance, which controls about half of the world's production capacity, will mostly maintain its quotas, with Russia allowed a 130,000 b/d increase and Kazakhstan a 20,000 b/d rise, while Saudi Arabia said it would continue implementing its voluntary cut

U.S. commercial crude oil inventories increased by 21.6 million barrels to 484.6 million barrels.

Brent added 52 cents, or 0.8%, to $64.59 a barrel. WTI gained 43 cents, or 0.7% to $61.71 a barrel.

The pan-European STOXX 600 index fell 0.5% in early trading, with miners dropping 2.8% and travel & leisure stocks down 1.6%.

Brent rose 24 cents, or 0.38%, to $62.94 a barrel. WTI rose 15 cents, or 0.25%, to $59.90 a barrel.

“We must emphasize in strong terms: cautious optimism, cautious optimism, cautious optimism.”

Current oil demand of 94 million b/d, rising to 99 million b/d in 2022.

Shares on Shanghai's Composite Index climbed 1.6% ahead of Friday's annual parliamentary gathering