PLATTS - China's crude oil imports from Saudi Arabia in February rose 19.5% month on month to 1.21 million b/d, or 4.64 million mt, making it the second-largest supplier, data released by the General Administration of Customs on Tuesday showed.

CBRF - On 23 March 2018, the Bank of Russia Board of Directors decided to cut the key rate by 25 bp to 7.25% per annum. Annual inflation remains sustainably low. Inflation expectations are diminishing progressively. The Bank of Russia forecasts annual inflation to be 3-4% in late 2018 and remain close to 4% in 2019. In this environment the Bank of Russia will continue to reduce the key rate and will complete the transition to neutral monetary policy in 2018.

REUTERS - U.S. West Texas Intermediate (WTI) crude futures were at $65.51 a barrel at 0255 GMT, down 37 cents, or 0.6 percent, from their previous close. Brent crude futures were at $70.24 per barrel, down 21 cents, or 0.3 percent.

BAKER HUGHES A GE - U.S. Rig Count is up 5 rigs from last week to 995, with oil rigs up 4 to 804, gas rigs up 1 to 190, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 58 rigs from last week to 161, with oil rigs down 51 to 93, gas rigs down 7 to 68, and miscellaneous rigs unchanged at 0.

REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $64.99 a barrel at 0405 GMT, up 69 cents, or 1.1 percent, from their previous close. Brent crude futures LCOc1 were at $69.54 per barrel, up 63 cents, or 0.9 percent. For the week, Brent was set for a gain of about 5 percent, its strongest showing since July last year, while WTI was up about 4.3 percent.

SHELL - Shell reiterated its expectation of $6-7 billion annual organic free cash flow from Downstream by 2020, at $60 per barrel (real terms 2016) and mid-cycle Downstream conditions, with $9-12 billion expected by 2025. The company plans to invest $7-9 billion a year across Downstream, and to deliver a return on average capital employed (ROACE) above 15%.

BEA - The U.S. current-account deficit increased to $128.2 billion (preliminary) in the fourth quarter of 2017 from $101.5 billion (revised) in the third quarter, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.6 percent of current- dollar gross domestic product (GDP) in the fourth quarter, up from 2.1 percent in the third quarter.

FRB - In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.

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.

REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.69 a barrel at 0744 GMT, up 15 cents, or 0.2 percent, from their previous close. Brent crude futures LCOc1 were at $67.56 per barrel, up 14 cents, or 0.2 percent.

МИНЭНЕРГО РОССИИ - цель соглашения - баланс спроса и предложения на рынке - может быть достигнута, начиная с третьего или четвертого квартала этого года. «Нужно смотреть, как будет развиваться ситуация весной и в летний период во время роста спроса», - добавил Александр Новак.

EIA - The United States exported more natural gas than it imported in 2017, marking the first time since 1957 that the United States has been a net natural gas exporter. The transition to net exporter occurred as natural gas production in the United States continued to grow, reducing pipeline imports from Canada and increasing exports, both by pipeline and as liquefied natural gas (LNG).

PLATTS - ExxonMobil remains more bullish on the future for oil, predicting that demand for oil will likely continue to grow by 19% to 117 million b/d to 2040.

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.

BLOOMBERG - The Saudis see atomic energy as a way to ease their dependence on finite fossil fuels. But they are also driven by competition with their rival Iran, which has multiple nuclear facilities.