2020

Angola's crude output has fallen from a peak of 1.9 million b/d in 2010 to 1.4 million b/d currently

the U.S. unemployment rate was little changed at 3.6 percent

The worldwide rig count for January 2020 was 2,073, up 30 from the 2,043 counted in December 2020, and down 192 from the 2,265 counted in January 2019.

U.S. Rig Count is unchanged from last week at 790, Canada Rig Count is up 10 rig from last week at 257

Brent rose 24 cents, or 0.4%, to $55.17 a barrel, WTI were up 15 cents, or 0.3%, at $51.10 a barrel,

Russian energy minister Alexander Novak discussed bilateral energy cooperation with the US ambassador to Russia, John Sullivan, on Thursday, according to an energy ministry statement.

The Russian delay is sure to frustrate OPEC kingpin Saudi Arabia, which had called for the collective to immediately implement deeper cuts of 500,000 b/d or more amid the sell-off in crude prices.

The US was prepared to sanction Rosneft if it continued to trade crude oil and fuel with PDVSA, but analysts said those sanctions have yet to be imposed because of the expected impact they may have on the global oil market.

The EU has agreed to sanctions against two officials from Turkey’s state petroleum company.

The coal power industry acknowledges that to play a stable role in future power markets, it needs to modernize, and perhaps even overhaul its long-held status as a “conventional generator