- Yahoo! Finance reports that Reliance Industries in India has received approval from the US to resume its oil trading with Venezuela.
- Oil will have a very full week ahead, with headline risks from the monthly OPEC meeting and the International Energy Administration (IEA) report. The Chinese Industrial Production data for July will also move the needle for Crude prices.
- The recent correction in Oil prices could be a welcomed surprise for US consumers at the pump, and a rise in demand could be expected in the coming weeks, according to the Wall Street Journal.
- The weekly Baker Hughes US Oil Rig Count will be released at 17:00 GMT on Friday. The previous number was 482, and no forecast is available.
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