Weekly oil supply/demand roundup - crude down ~$6.50 from last Friday's close
This week's DOE inventory update showed a larger than expected 10.6mb draw in oil and oil products.
TSA checkpoint numbers pointed to a ~3% increase in passenger volume week on week.
The Baker Hughes (NASDAQ:BKR) US, oil-directed rig count rose by 8 this week.

Iran negotiations were paused, following Russia's request for additional assurances from Washington.
BP (NYSE:BP) and Shell (NYSE:SHEL) reportedly stopped selling diesel in Germany, for fear of shortages.
Shell (SHEL) swore off Russian oil purchases, following public backlash.

Zelenskyy's willingness to negotiate on independent regions and walk away from NATO raised the possibility of a diplomatic solution to end the war in Ukraine.
The White House visited Venezuela to discuss sanctions relief in exchange for direct oil exports to the US.
Alberta premiere Kenney said KXL could deliver 900kb/d of Canadian oil to the US by Q1 2023.

Biden blocked Russian crude imports.

Aramco (ARMCO) raised OSP levels to an all-time high.