EIA - Recently announced U.S. sanctions directed at Venezuela’s energy sector and state oil company, Petróleos de Venezuela, S.A. (PDVSA), will essentially eliminate U.S. imports of Venezuelan crude oil as the full effects of the sanctions emerge. However, the U.S. Energy Information Administration (EIA) does not anticipate any significant decrease in U.S. refinery runs as a result of these sanctions.

U.S. BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $49.3 billion in November, down $6.4 billion from $55.7 billion in October, revised.

EIA - U.S. production of uranium concentrate (U3O8) in the fourth quarter of 2018 was 345,425 pounds, down 35% from the third quarter of 2018 and down 45% from the fourth quarter of 2017. During the fourth quarter of 2018, U.S. uranium was produced at six U.S. uranium facilities, one fewer than in the third quarter of 2018.

U.S. BLS - Total nonfarm payroll employment increased by 304,000 in January, and the unemployment rate edged up to 4.0 percent, the U.S. Bureau of Labor Statistics reported. Job gains occurred in several industries, including leisure and hospitality, construction, health care, and transportation and warehousing.

BHGE - U.S. Rig Count is down 14 rigs from last week to 1,045 rigs, with oil rigs down 15 to 847 and gas rigs up 1 to 198. Canada Rig Count is up 11 rigs from last week to 243, with oil rigs up 13 to 159 and gas rigs down 2 to 84.

PLATTS- US refiners cannot rely on Mexico to replace Venezuelan heavy oil imports as the country is battling to reverse its declining production and Pemex's oil is sold under contractual basis, analysts and others say.

U.S. EIA - U.S. crude oil production rose to a new high of 11.9 million barrels per day in November, up 345,000 bpd from the previous month,

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.