Angola is among the hardest hit at the moment, with daily exports to China falling 27% so far this month compared with whole of February last year.

Overall gas use in the 27-nation European Union plunged by 19.3% from August to January compared with the five-year average for the same period,

You can't invest in Natural Gas on a daily basis, Its too volatile, but if you think of Natural Gas a long-term holding, then you push your profit horizon out.

Brent rose 70 cents, or 0.8%, to $83.70 a barrel, WTI was at $76.89 a barrel.

Refiners in India, which rarely used to buy Russian oil because of costly logistics, have emerged as Russia's key oil client

Current hydrogen production technologies release significant carbon emissions, and up until now, cost has limited expansion to green hydrogen technologies.

Brent dropped 96 cents, or 1.13%, to $84.18 per barrel, WTI shed 97 cents, a 1.24% loss, to $77.52.

In October, OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have indicated they intend to leave the quotas unchanged throughout 2023, and the comments from Prince Abdulaziz bin Salman are the most emphatic to date.

Gas markets are in “better shape than many expected one year ago,” IEA Executive Director Fatih Birol said. “But the reality is that winter 2023-2024 is likely to be the real test.”

U.S. commercial crude oil inventories increased by 16.3 million barrels to 471.4 million barrels.

Brent slid $1.13, or 1.3%, to $84.45 a barrel, WTI dropped $1.31, or 1.7% to $77.75.

Nonetheless, the IEA said global oil markets will likely remain in surplus in the first half of the year amid surprisingly robust output from Russia.

Brent fell 86 cents, or 1%, to $85.53 a barrel, WTI was at $78.83 a barrel, down 89 cents, or 1.1%.

Benchmark futures are now trading just above €50, near the lowest levels since September 2021.

CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar.