OIL UP 4%

Crude prices jumped about 4 percent on Tuesday after No. 1 oil consumer the United States cut output forecasts and Russia, Saudi Arabia and other big producers signaled joint action to support the market.
A weakening dollar added support for oil, aside from bets that the U.S. oil rig count could tumble again this week after last week's unexpectedly sharp decline of 26 rigs.
Brent, the global benchmark for crude, was up $2, or 4 percent, at $51.25 a barrel by 10:58 a.m. EDT (1458 GMT).
Traders also cited technical buying for Brent at above $50…
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February, 18, 12:30:00 |
OIL PRICE: ABOVE $66 |
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February, 18, 12:25:00 |
OIL DEMAND GROWTH 1.4 MBD |
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February, 18, 12:20:00 |
BRENT OIL: UNDERVALUED |
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February, 18, 12:15:00 |
U.S. OIL PRODUCTION 11.9 MBD AGAIN |
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February, 18, 12:10:00 |
BENEFIT FOR RUSSIA |
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February, 18, 12:05:00 |
LATIN AMERICA ENERGY FORUM FEBRUARY 2019 |
Chronicle:

БЫСТРАЯ СИЛА СИБИРИ
ГАЗПРОМ - Как отметил по итогам переговоров Алексей Миллер, «строительство газопровода „Сила Сибири“ идет с опережением графика, „Газпром“ начнет поставки газа в Китай раньше намеченного срока — уже с 1 декабря 2019 года».

U.S. TIGHT OIL PRODUCTION 7 MBD
U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.

U.S. SHALE NEED INVESTMENT
REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.

U.S. INDUSTRIAL PRODUCTION DOWN 0.6%
U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.