A U.S. ban on new offshore drilling in the Gulf of Mexico

Oil markets are being significantly disrupted due to global market dynamics and the coronavirus pandemic, the oil price crash was "causing financial and credit challenges, including oil company bankruptcies."

U.S. Rig Count is down 21 rigs from last week to 318, Canada Rig Count is down 2 rigs from last week to 21

Last week’s filings lifted the number of people who filed claims for unemployment benefits to about 38.6 million since March 21.

The July cancellations, roughly double what was reported for June, represent nearly two-thirds the average volume of US LNG that was produced monthly when the coronavirus began to spread globally in January,

A bipartisan group of US Senators has called for the Department of Commerce (DOC) to extend the Russian Suspension Agreement (RSA), as recommended by the Nuclear Fuel Working Group (NFWG).

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.0 million barrels from the previous week. At 526.5 million barrels, U.S. crude oil inventories are about 10% above the five year average for this time of year.

Producers were operating the fewest oil and natural gas drilling rigs on record in the United States at 339 on May 12, the lowest level in the Baker Hughes Company’s rig count data series that dates back to 1987.

U.S. power grid weighted-average 5.8% decrease in demand for 2020 versus the same period in 2019.

the U.S. economy would contract at a 37.7% annual rate in the second quarter, but expand at a 21.5% pace in the July-September period.