January 2020

U.S. dry gas production will fall to 94.11 billion cubic feet per day (bcfd) in 2021 from a record 94.74 bcfd in 2020. The current all-time high is 92.03 bcfd in 2019.

Last year, China imported a record 506 million tonnes of crude oil, 9.5% above 2018’s level, according to data from the General Administration of Customs.

The International Renewable Energy Agency (IRENA) and the European Bank for Reconstruction and Development have signed a Memorandum of Understanding (MoU) allowing the two organisations to strengthen their relationship and accelerate efforts to rapidly increase the share of renewable power in EBRD countries of operation, helping minimise climate impact and use electricity more sustainably.

"A host of policies and technologies will be needed across every sector to keep climate targets within reach, and further technology innovation will be essential to aid the pursuit of a 1.5 degrees [Celsius global temperature] stabilization," Birol said in Abu Dhabi.

The foreign ministers of France, Germany and the UK have triggered a dispute resolution mechanism over the nuclear deal with Iran - the Joint Comprehensive Plan of Action (JCPOA) - following the Middle Eastern country's further step away from its commitments. Josep Borrell, EU foreign affairs chief and coordinator of the JCPOA joint commission, said he had received today a letter from the three ministers for resolution through the mechanism, as set out in paragraph 36 of the agreement.

German chancellor Angela Merkel on Saturday repeated a call for all parties to respect the Iranian nuclear accord, despite Iran’s decision to intensify its enrichment of uranium and moves by the United States to impose economic sanctions.

France's EDF missed its 2019 target, with nuclear output hurt by outages falling 3.5% to 379.5 TWh.

Brent was down 15 cents at $64.83 per barrel, WTI crude CLc1 was down 8 cents at $58.96 a barrel

Saudi Arabia, the world's biggest oil exporter, is in the midst of an OPEC+ agreement to cut 1.7 million b/d of crude from the market in Jan through to March.

I, DONALD J. TRUMP, President of the United States of America, find that Iran continues to be the world's leading sponsor of terrorism and that Iran has threatened United States military assets and civilians through the use of military force and support to Iranian-backed militia groups.