NYT - China and India are the biggest buyers of Iranian crude, but they also provide markets for 40 percent of Venezuelan exports, which have been plummeting under the weight of mismanagement, debt and American financial sanctions.
SHANA - Climate Action and Energy Commissioner Miguel Arias Cañete met Iranian Minister of Petroleum Bijan Zangeneh in his Tehran office on Saturday in a bid to protect Iran's oil trade following US withdrawal from the nuclear deal.
IRNA - since banning Iran’s oil exports was the first sanction imposed by the US, in their statement, Europeans has put extra emphasis on the continued sale of Iran’s oil and gas condensate petroleum products and petrochemicals and related transfers.
API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.
BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.
IEA - Because of rising prices, we lowered our estimate for 2018 global oil demand growth by 40 kb/d to 1.4 mb/d, and we increased our expectation for US oil production growth this year by 120 kb/d.
REUTERS - “We urge relevant parties to earnestly respect China’s sovereign and jurisdictional rights and not do anything that could impact bilateral relations or this region’s peace and stability,” the spokesman, Lu Kang, told a regular news briefing on Thursday.
BLOOMBERG - Nigerian National Petroleum Corp., the Abuja-based behemoth that dominates the OPEC member’s energy industry, has made losses for at least the last three years,
EIA - Crude oil production from the major US onshore regions is forecast to increase 144,000 b/d month-over-month in June from 7,034 to 7,178 thousand barrels/day , gas production to increase 1,092 million cubic feet/day from 67,027 to 68,119 million cubic feet/day .
NPD - Preliminary production figures for April 2018 show an average daily production of 1 868 000 barrels of oil, NGL and condensate, which is a decrease of 34 000 barrels per day compared to March.