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

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

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

Chesapeake filed for Chapter 11, becoming the largest US oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets

US crude oil stocks rose while gasoline and distillate inventories fell in the most recent week, data from industry group the American Petroleum Institute showed

Oil prices were little changed, hovering near their highest levels since early March after US President Donald Trump soothed jangled nerves over US-China trade

Oil demand is recovering from the greatest fall in its history in 2020, IEA said, but less flying due to coronavirus fears means the world will not return to pre-pandemic demand levels before 2022

US crude oil and distillate stocks rose sharply while gasoline inventories decreased, data from industry group the American Petroleum Institute showed

The Russian Energy Ministry stated supply has already dropped by 14 million to 15 million barrels per day thanks to the OPEC+ deal and output cuts in other countries. Moreover, the surplus stands at around 7-12 million bpd

Saudi Arabia said it is monitoring oil markets and is ready to take extra measures to stabilize them along with OPEC+ allies and other oil producers