U.S. BLS - Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.

“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”

U.S. Rig Count is up 307 rigs from last year's count of 624, with oil rigs up 253, gas rigs up 55, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 11 rigs from last year's count of 230, with oil rigs down 5, gas rigs down 5, and miscellaneous rigs down 1 to 1.

REUTERS - U.S. West Texas Intermediate (WTI) crude futures were at $56.58 a barrel at 0714 GMT, down 11 cents, or 0.2 percent from their last settlement. Brent crude futures, the international benchmark for oil prices, were down 8 cents, or 0.1 percent, at $62.12 a barrel.

EIA - In August 2017, total U.S. natural gas liquefaction capacity in the Lower 48 states increased to 2.8 billion cubic feet per day (Bcf/d) following the completion of the fourth liquefaction unit at the Sabine Pass liquefied natural gas (LNG) terminal in Louisiana. With increasing liquefaction capacity and utilization, U.S. LNG exports averaged 1.9 Bcf/d, and capacity utilization averaged 80% this year, based on data through November.

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were down 6 cents at $62.80 a barrel as of 0751 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $57.50 a barrel, down 22 cents.

BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $48.7 billion in October, up $3.8 billion from $44.9 billion in September, revised. October exports were $195.9 billion, down less than $0.1 billion from September exports. October imports were $244.6 billion, $3.8 billion more than September imports.

BLOOMBERG - West Texas Intermediate for January delivery was at $57.93 a barrel on the New York Mercantile Exchange at 2:02 p.m. in Seoul, down 43 cents. The contract gained 96 cents to settle at $58.36 on Friday. Total volume traded was about 21 percent below the 100-day average. Brent for February settlement dropped 36 cents to $63.37 a barrel on the London-based ICE Futures Europe exchange. Prices added $1.10, or 1.8 percent, to close at $63.73 on Friday. The global benchmark crude was at a premium of $5.43 to February WTI.

U.S. Rig Count is up 332 rigs from last year's count of 597, with oil rigs up 272, gas rigs up 61, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 22 rigs from last year's count of 200, with oil rigs up 11, gas rigs up 13, and miscellaneous rigs down 2 to 0.

BLOOMBERG - West Texas Intermediate for January delivery was at $57.72 a barrel on the New York Mercantile Exchange, up 32 cents, at 7:50 a.m. in London. Total volume traded was about 16 percent below the 100-day average. Prices rose 10 cents to $57.40 on Thursday, capping a 5.6 percent gain for November. Brent for February settlement climbed 43 cents to $63.06 a barrel on the London-based ICE Futures Europe exchange. The January contract expired Thursday after adding 46 cents, or 0.7 percent, to $63.57. The global benchmark crude was at a premium of $5.32 to February WTI.

GAZPROM -Profit attributable to the owners of PJSC Gazprom for the nine months ended September 30, 2017 totalled RUB 581,834 million which is by RUB 127,487 million, or 18 %, less than for the same period of the prior year.

PLATTS - Having gained over 5 cents yesterday as the new front month contract, NYMEX January 2018 natural gas futures were lower ahead of Thursday's open and the morning release of the weekly storage data. At 6:45 am ET (1145 GMT), the contract was down 8.2 cents to $3.097/MMBtu.

BEA - Real gross domestic product (GDP) increased at an annual rate of 3.3 percent in the third quarter of 2017, according to the "second" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent.

BLOOMBERG - Implied volatility, a gauge of expected price moves, dropped to about 22 percent on Friday for New York-traded crude. That was the lowest level since early March and close to a three-year low. Other gauges of turbulence have also traded at multi-year lows since the start of October, despite the escalating tensions and meetings this week in Vienna, where OPEC and allied oil-producer states will discuss the extension of supply curbs that propped up the market.

BLOOMBERG - Global crude inventories are declining and supply and demand are in balance, according to the head of Saudi Aramco, while the United Arab Emirates energy minister said U.S. shale oil doesn’t threaten OPEC’s efforts to support the market.