SHANA - The country exported 2.4 mbd of crude oil and 300,000 b/d of gas condensate, ultra light crude oil, during May.

SHANA - The Iranian Minister of Petroleum further stressed that should the sanctions lead to any reduction in the oil market share of the I.R. Iran, Tehran, once the illegal limitations were resolved, reserves the right to return to its oil market share in the shortest possible time and resume its normal production-level and that it would not accept any limitations in that regard.

API - “The implementation of new tariffs will disrupt the U.S. oil and natural gas industry’s complex supply chain, compromising ongoing and future U.S. energy projects, which could weaken our national security. Additionally, Canada, Mexico and the European Union are imperative members of our Defense Industrial Base (DIB) and are top military allies – far from a threat to America’s security.

API - A diverse group of energy industry associations including energy efficiency and storage, natural gas, oil, solar and wind issued the following statement condemning the Administration’s draft plan to bail out coal and nuclear plants across the country.

IMF - The near-term growth outlook is broadly positive. Overall, GDP growth of 2.6 percent is projected for 2018. Inflation is expected to peak at 3.9 percent in 2018—as the impact of the value-added tax being introduced during the second half of 2018 would mostly be felt in that year—before easing to 2.2 percent in the medium term. The availability of significant external and fiscal buffers and the strong financial sector should enable the country to withstand downside risks, including lower-than-envisaged oil prices, tighter global conditions and an escalation of the diplomatic rift.

PLATTS - Japan is keen to back oil investments in the Caspian states of Azerbaijan and Kazakhstan as it tries to reduce its reliance on Middle Eastern countries, particularly Saudi Arabia, the UAE and to a lesser extent Iran, Japanese officials said

EIA - In April 2018, Bangladesh became the newest country to begin imports of liquefied natural gas (LNG). In the next two years, six more countries—Panama, Gibraltar, Russia, Philippines, Ghana, and Bahrain—are expected to start importing LNG, adding a combined 2.1 billion cubic feet per day (Bcf/d) of new regasification import capacity.

BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,060, with oil rigs up 2 to 861 and gas rigs down 1 to 197. Canada Rig Count is up 18 rigs from last week to 99 rigs, with oil rigs up 21 to 56 and gas rigs down 3 to 43.

REUTERS - U.S. West Texas Intermediate crude CLc1 lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday. Global benchmark Brent crude LCOc1, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel.

МИНЭНЕРГО РОССИИ - Глава Российской Федерации отметил, что через территорию Болгарии проходят транзитные потоки российских углеводородов в другие страны Юго-Восточной Европы. «Есть возможности развивать сотрудничество в этой важнейшей сфере – тем самым вносить ещё больший вклад в обеспечение европейской энергетической безопасности», - подчеркнул Владимир Путин.