THE TRADE WAR LIMITING U.S.
API - the American Petroleum Institute released its industry outlook for the third quarter of 2018. The report shows the U.S. celebrated another new record for crude oil production of 10.8 million barrels per day (MBD) over the past two months. but U.S. petroleum exports decreased by 1.3 million barrels per day since June. The overall United States' petroleum trade balance went from net imports of 2.9 MBD in June to 4.54 MBD in August, which is more than a 56 percent increase in two months.
"Placing constraints on exports of American-made energy works…
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South Korea's economy has been pushing to shed its heavy reliance on coal and nuclear power, with the latest target coming on top of a 2017 plan to increase the amount of renewables in its energy mix to 20 percent by 2030.
The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.
the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,
BHGE - U.S. Rig Count is down 10 rigs from last week to 1,012, with oil rigs down 8 to 825, gas rigs down 2 to 187, and miscellaneous rigs unchanged at 0. Canada Rig Count unchanged from last week at 66, with oil rigs up 1 to 19 and gas rigs down 1 to 47.