Brent increased 51 cents, or 0.71%, to $72.49 a barrel, WTI added 43 cents, or 0.63%, to $68.61 a barrel.

Energy ministry expected Russia to produce 540 million metric tons of oil in 2030 (10.8 million barrels per day), up from 531 million tons in 2023.

The shift in thinking represents a major change of tack for Saudi Arabia, which has led other Opec+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices.

Brent were up 69 cents, or 0.93%, at $74.59 a barrel, WTI rose 74 cents, or 1.05%, to $71.11.

Brent were up 99 cents, or 1.39%, at $72.05 a barrel, WTI rose $1, or 1.48%, to $68.67 a barrel.

In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024,

Brent rose 19 cents, or 0.26%, to $72.88, WTI were up 22 cents, or 0.32%, to $69.37.

Our benchmark BRENT has slipped in further escalating talks of SPR replenishment vis a vis supply conversations amidst the Chinese Data and US PMI data.We are at the confluence of both head and tail winds friends.

Brent were down 37 cents, or 0.48%, to $77.15 a barrel. WTI was 28 cents up from its Friday close of $73.55.

Global gas demand sustained its growth in 2023, increasing 59 Bcm (1.5%) from 2022. This trend is expected to continue in 2024 with a further estimated ~87 Bcm (2.1%) rise in demand.

Russian gas is delivered to Turkey via the Blue Stream and TurkStream pipelines, while a number of countries in southeast and central Europe still import Russian gas via TurkStream and onshore pipeline infrastructure.

Led by Saudi Arabia and Russia, the Organization of Petroleum Exporting Countries and its allies are due to add 180,000 barrels a day as they gradually restore output that’s been halted since 2022.

Brent were up 25 cents, or 0.31%, at $79.80 a barrel, WTI rose 17 cents, or 0.23%, to trade at $75.70.

Benchmark futures rose as much as 2.4% on Monday. The market has been sensitive to geopolitical events and outages this summer, even with storage sites exceeding targets ahead of Europe’s heating season.

Brent were 3 cents up to $76.08 a barrel, WTI fell 5 cents to trade at $71.88.