EIA - US oil production averaged 9.964 million b/d in January, up nearly 1.14 million b/d compared with January 2017, but about 102,000 b/d below November's record domestic output,

REUTERS - “We are working to shift from a year-to-year agreement to a 10 to 20 year agreement,” the crown prince told Reuters in an interview in New York late on Monday. “We have agreement on the big picture, but not yet on the detail.”

REUTERS - OPEC, Russia and several other non-OPEC producers have curbed output since January 2017 to erase a global glut of crude that had built up since 2014. They have extended the pact until the end of 2018, and meet on June 22 to review policy.

OPEC - Participating OPEC and non-OPEC producing countries have set a new record in February with their voluntary production adjustments, achieving a level of 138%, according to the OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC).

NPD - Preliminary production figures for February 2018 show an average daily production of 1 944 000 barrels of oil, NGL and condensate, which is a decrease of 83 000 barrels per day compared to January.

PLATTS - UK oil production is expected to rise by 9% this year, to nearly 1.1 million b/d, while gas output will remain flat and the longer term looks less positive, industry group Oil & Gas UK said Tuesday.

FRB - Industrial production rose 1.1 percent in February following a decline of 0.3 percent in January. Manufacturing production increased 1.2 percent in February, its largest gain since October. Mining output jumped 4.3 percent, mostly reflecting strong gains in oil and gas extraction.

PLATTS - Demand for OPEC crude will average 32.61 million b/d in 2018, the organization calculated, a 200,000 b/d decrease from last month's projection.

EIA - Annual average U.S. crude oil production grew by 463,000 barrels per day (b/d) in 2017 to 9.3 million b/d after declining by 551,000 b/d in 2016.

REUTERS - The country churned out 30.37 million tonnes of crude in the first two months of the year, according to data from he National Bureau of Statistics, equivalent to 3.76 million barrels per day (bpd) and on a par with the weakest level in data stretching back to June, 2011.