1. Kuwait Oil Minister: Kuwait and Saudi Arabia have “exclusive rights” in the Durra gas field.
2. The U.S. Department of Energy said it would purchase an additional 6 million barrels of oil for the Strategic Petroleum Reserve (SPR). The newly purchased oil will be received in October and November 2023.
3. According to Tass News Agency: The Russian Ministry of Energy confirmed that it will cut oil supply by 500,000 barrels per day by cutting exports.
4. US drilling company Baker Hughes: The number of US oil and gas drilling equipment increased for the first time in 10 weeks.
5. Indian Oil Minister: India’s state-owned oil and gas company plans to produce more than 1 million tons of green hydrogen per year by 2030.
6. The Venezuelan opposition is drafting a proposal that would require the country to transfer about 200,000 barrels per day of its oil exports to a trustee to pay creditors on the country’s foreign assets.
7. Three industry sources said on Friday that Vietnam Petrolimex is seeking to buy more short-term contract diesel for delivery starting in August as the country’s fuel output is expected to decline during the refinery maintenance season.
8. India’s fuel demand fell 3.7% month-on-month in June as monsoon rains restricted liquidity in the world’s third-largest oil consumer.