European stocks opened higher, with the STOXX 600 and London’s FTSE 100 up 0.3%. That followed a subdued Asian session as markets in China, Japan, South Korea and Taiwan were closed for holidays.

Brent was down by 1 cent at $61.08. WTI dropped 8 cents to $58.28.

Brent crude oil prices will average $56/b in the first quarter of 2021 and $52/b over the remainder of the year. Brent prices will average $55/b in 2022.

"Iraq is committed to the [OPEC+] agreement to cut production in light of the current challenges facing the international oil market and global oil producers due to the coronavirus that led to the contraction and recession in the global economy," Karim Hattab told INA.

The CSI300 index rose 1.7% to 5,781.43 points at the end of the morning session, the highest since Oct. 18, 2007, while the Shanghai Composite Index gained 1.0% to 3,640.65 points.

Aramco is in talks with banks to provide “staple financing”, which is a financing package provided by the seller that buyers can use to back their purchase.

Средняя цена на нефть марки Urals в январе 2021 года сложилась в размере $54,41 за баррель, в январе 2020 года - $61,67 за баррель.

Brent gained 41 cents, or 0.7%, to $60.97 a barrel. WTI was at $58.25 a barrel, up 28 cents, or 0.5%.

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,