OGJ - US crude oil inventories for the week ended Jan. 25, excluding the Strategic Petroleum Reserve, increased by 900,000 bbl from the previous week, data from the US Energy Information Administration showed.

EIA - In November 2018, for the 19th consecutive month, dry natural gas production increased year to year for the month. The preliminary level for dry natural gas production in November 2018 was 2,646 billion cubic feet (Bcf), or 88.2 Bcf/d. This level was 9.2 Bcf/d (11.6%) higher than the November 2017 level of 79.0 Bcf/d. The average daily rate of dry natural gas production for November was the highest for any month since EIA began tracking monthly dry natural gas production in 1973.

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

U.S. DT - Over the first three quarters of 2018, the U.S. economy grew at an annualized rate of 3.2 percent, the fastest pace for the first three quarters of a year since 2005. Initial data for the fourth quarter indicate the economy continued to perform well, although slowing global growth and the housing sector could present headwinds. Private forecasters in the Blue Chip Economic Indicators monthly survey now estimate that real GDP growth slowed to 2.7 percent in the fourth quarter, and will slow further to 2.2 percent in the first quarter of 2019.

API - U.S. production of crude oil (11.7 mb/d) and natural gas liquids (NGLs) (4.8 mb/d); Crude oil exports (2.4 mb/d, tie with Nov. 2018);

EIA - U.S. crude oil production continues to set annual records through the mid-2020s and remains greater than 14.0 million barrels per day (b/d) through 2040. The continued development of tight oil and shale gas resources, particularly those in the East and Southwest regions, supports growth in NGPL production—which reaches 6.0 million b/d by 2030—and dry natural gas production. Dry natural gas production reaches 43.4 trillion cubic feet by 2050.

BHGE - U.S. Rig Count is up 9 rigs from last week to 1,059 rigs, with oil rigs up 10 to 862 and gas rigs down 1 to 197. Canada Rig Count is up 23 rigs from last week to 232, with oil rigs up 18 to 146 and gas rigs up 5 to 86.

PLATTS - Chevron, PBF Energy, Valero and Citgo, which is owned by PDVSA, are the largest US refiners of Venezuelan crude, according to the US Energy Information Administration. Spokesmen for those four companies did not respond to requests for comment Wednesday.

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 62,000 b/d month-over-month in February from 8,117 to 8,179 thousand barrels/day , gas production to increase 849 million cubic feet/day from 76,708 to 77,557 million cubic feet/day .

REUTERS - Saudi Aramco, the world’s top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend “billions of dollars” there as it aims to become a global gas player, the company’s CEO said on Tuesday.