January 2021

Libyan crude and condensate output surged to around 1.25 million b/d earlier this month, its highest level in more than six years

Angola's oil production declined by 15% to 1.3 mb/d in 2020

Since 2005, the three power resources have accounted for more than 90% of all capacity additions (328 GW), with a remarkable 97% (170.9 GW) during the last seven years alone.

Coal currently plays a critically important role in balancing the electricity grid while India drives an ever-larger infrastructure investment into ever-cheaper domestic, sustainable, zero emissions renewable energy.

Preliminary production figures for December 2020 show an average daily production of 2 135 000 barrels of oil, NGL and condensate.

The recent Russian SolarWinds hack has been identified as one the most significant cyberattacks against the US.

China added nearly 72 GW of wind power capacity and 48 GW of solar capacity in 2020.

U.S. Rig Count is up 5 from last week to 378, Canada Rig Count is up 11 from last week to 172.

Brent fell 58 cents, or 1.03%, to $55.52 a barrel. WTI dropped 65 cents, or 1.2%, to $52.48 a barrel.

The price of Brent crude oil to increase from its December 2020 average of $50 per barrel (b) to an average of $56/b in the first quarter of 2021. The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022.