China’s crude oil imports from Saudi Arabia rose 15% in June from a year ago, as refiners ordered record volumes of the fuel in March and April when oil prices tumbled

US crude oil and distillate inventories rose unexpectedly and fuel demand slipped last week, the Energy Information Administration said, as a sharp outbreak in coronavirus cases hit US consumption

Oil rose, helped by positive news about vaccine trials and an EU stimulus deal, taking prices to levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia

Chevron Corp said it would buy Noble Energy Inc in a $5 billion all-stock deal, bolstering its shale presence as a plunge in crude prices have made assets cheaper

Brent crude futures fell 15 cents to $43.22 a barrel. US West Texas Intermediate (WTI) crude dropped 5 cents to $40.70. Both contracts were on track to remain broadly flat over the week

US crude oil and refined product inventories fell sharply last week due in part to a notable drop in crude imports, the Energy Information Administration said

Saudi Arabia’s energy minister said that OPEC+ was moving to the next phase of its oil cut pact when the group is expected to ease their reductions as oil demand recovers

Global oil demand will soar by a record 7 million barrels per day in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly report

The Paris-based IEA raised its forecast to 92.1 million barrels per day, up 400,000 bpd from its outlook last month, citing a smaller-than-expected second-quarter decline

US crude oil stockpiles rose last week even as refineries hiked output, while gasoline inventories decreased and distillate inventories rose, the Energy Information Administration said