Crude oil and distillate stocks rose in the most recent week, while gasoline inventories fell, according to two market sources, citing American Petroleum Institute figures

Saudi Arabia’s crude oil exports fell to their lowest in eight months in February, the Joint Organisations Data Initiative (JODI) said, as the world’s biggest oil exporter voluntarily capped output to support oil prices

Russian Deputy Prime Minister Alexander Novak added that Russia’s energy ministry was ready to support export curbs on oil products in order to bolster the domestic market

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month

Energy giant Saudi Aramco said it has struck a 12.4-billion-dollar deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners

Spanish energy firm Repsol said it will furlough up to 830 workers at its A Coruna and Puertollano refineries in Spain as pandemic restrictions have led to an “unprecedented” slump in demand for fuels

The US Energy Information Administration announced that it raised the forecast for 2021 world oil demand growth by 180,000 barrels per day (bpd) to 5.5 million bpd

Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns