U.S. crude oil production increased for the second consecutive month in November 2016, the first time this has occurred since early 2015. Increased drilling activity in the Permian region, which spans Texas and New Mexico, as well as the start of a number of new projects in the Federal Offshore Gulf of Mexico (GOM), more than offset declining production from other regions in October and November 2016.

The United States is expected to become a net exporter of natural gas on an average annual basis by 2018. The transition to net exporter is driven by declining pipeline imports, growing pipeline exports, and increasing exports of liquefied natural gas (LNG). The United States is also projected to become a net exporter of total energy in the 2020s in large part because of increasing natural gas exports.

U.S. Rig Count is up 252 rigs from last year's count of 502, with oil rigs up 202, gas rigs up 49, and miscellaneous rigs up 1. Canadian Rig Count is up 166 rigs from last year's count of 175, with oil rigs up 123 and gas rigs up 43.

U.S. Rig Count is up 237 rigs from last year's count of 514, with oil rigs up 184, gas rigs up 52, and miscellaneous rigs up 1. Canadian Rig Count is up 125 rigs from last year's count of 206, with oil rigs up 85 and gas rigs up 40.

U.S. crude oil production increased for the second consecutive month in November 2016, the first consecutive monthly increase since April 2015.

U.S. oil production will up 80 tbd, gas production will up 524 mcfd.

U.S. Rig Count is up 200 rigs from last year's count of 541, with oil rigs up 152, gas rigs up 47, and miscellaneous rigs up 1. Canadian Rig Count is up 130 rigs from last year's count of 222, with oil rigs up 89 and gas rigs up 41.

‘‘Suncor generated $2.4 billion in cash in the fourth quarter thanks to strong contributions from all of our assets and our focus on cost management,’’ said Steve Williams, president and chief executive officer. ‘‘Reliable performance throughout the year has helped us overcome challenging crude pricing and the major production outage associated with the Fort McMurray forest fires, resulting in annual cash flow significantly exceeding our annual sustaining capital and dividend commitments.’’

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $44.3 billion in December, down $1.5 billion from $45.7 billion in November, revised. December exports were $190.7 billion, $5.0 billion more than November exports. December imports were $235.0 billion, $3.6 billion more than November imports.

Oil and gas extraction jobs increased by 100 to 177,400 in January, while support services jobs increased by 600 to 195,200 in December, its second increase in a row, according to U.S. Bureau of Labor Statistics (BLS) data.

U.S. Rig Count is up 158 rigs from last year's count of 571, with oil rigs up 116, gas rigs up 41, and miscellaneous rigs up 1. Canadian Rig Count is up 101 rigs from last year's count of 242, with oil rigs up 66 and gas rigs up 35.

In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1/2 to 3/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a return to 2 percent inflation.

Igor Yusufov, Russia’s energy minister from 2001 to 2004, said U.S. shale producers wouldn’t attempt to enter core OPEC and Russia markets where prices are too low for them to compete. “The fact is that shale oil and gas are doing well in markets that start from a certain price,” he said in an email exchange with The Wall Street Journal.

Real GDP increased 1.6 percent in 2016 (that is, from the 2015 annual level to the 2016 annual level), compared with an increase of 2.6 percent in 2015.

“Today’s action to reapply for the Keystone XL Pipeline’s cross-border permit is an important step forward to building a 21st Century energy infrastructure system across our nation,” said Gerard. “The Keystone XL Pipeline would support tens of thousands of jobs, contribute billions of dollars to our economy, and deliver energy efficiently and safely to consumers.