OPEC's 13 members pumped 25.70 million b/d in the month, up 270,000 b/d from December, while their nine non-OPEC partners, led by Russia, produced 12.91 million b/d, a rise of 170,000 b/d,

LNG Canada initially is to consist of two trains that together would provide 14 million metric tons/year of gas.

Brent touched an intraday high of $60.06 a barrel. WTI advanced 60 cents, or 1.1%, to $57.45 a barrel.

India's petroleum and steel minister Dharmendra Pradhan said stable energy markets will be crucial for both economic and demand recovery, and cooperation among consumers and producers is crucial to make that happen.

The blue-chip CSI300 index rose 1.5% to 5,564.56, while the Shanghai Composite Index added 1% to 3,532.45 points.

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.

U.S. Rig Count is up 8 from last week to 392, Canada Rig Count is down 3 from last week to 171,

Brent climbed 28 cents, or 0.5%, to $59.12 a barrel. WTI were up 29 cents, or 0.5%, to $56.52 a barrel.

On Wall Street, each of major indexes rose more than 1% on Thursday, with the Nasdaq Composite Index and S&P 500 setting record highs.

Brent gained 25 cents, or 0.43%, to $58.71 a barrel. WTI climbed 31 cents, or 0.56%, to $56 a barrel.

The global economy is forecast to grow by 4.4 per cent in 2021, a substantial shift from -4.1 per cent last year. “With the crude oil market currently switching into backwardation, we are hopeful that 2021 will be a good year for overall demand,” Barkindo said.

U.S. commercial crude oil inventories decreased by 9.9 million barrels to 476.7 million barrels.

Brent were up 48 cents, or 0.8%, to $57.94 a barrel. WTI were up 48 cents, or 0.8%, to $57.94 a barrel.

The Dow Jones Industrial Average rose 1.57% on Tuesday, the S&P 500 gained 1.39%, and the Nasdaq Composite added 1.56%.

Brent was up 48 cents, or 0.9%, at $56.83 a barrel. WTI gained 52 cents, or 1%, to $54.07.