U.S. oil production will up 41 tbd, gas production will up 330 mcfd.

The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $23.7 billion. Of this, net foreign private inflows were $25.2 billion, and net foreign official outflows were $1.5 billion.

U.S. Rig Count is up 9 rigs from last year's count of 650, with oil rigs up 7, gas rigs up 1, and miscellaneous rigs up 1. Canadian Rig Count is up 88 rigs from last year's count of 227, with oil rigs up 60, gas rigs up 27, and miscellaneous rigs up 1.

“Today’s report shows evidence that the consistent decline in oil and natural gas drilling could be coming to an end,” said Hazem Arafa, director of API’s statistics department.

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 $45.2 billion in November, up $2.9 billion from $42.4 billion in October, revised. November exports were $185.8 billion, $0.4 billion less than October exports. November imports were $231.1 billion, $2.4 billion more than October imports.

Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for December 2016 was 929, up 4 from the 925 counted in November 2016, and down 166 from the 1,095 counted in December 2015. The international offshore rig count for December 2016 was 210, down 1 from the 211 counted in November 2016, and down 40 from the 250 counted in December 2015.

U.S. Rig Count is up 1 rig from last year's count of 664, with oil rigs up 13, gas rigs down 13, and miscellaneous rigs up 1. Canadian Rig Count is up 39 rigs from last year's count of 166, with oil rigs up 10, gas rigs up 28, and miscellaneous rigs up 1.

U.S. Rig Count is down 40 rigs from last year's count of 698, with oil rigs down 11, gas rigs down 30, and miscellaneous rigs up 1. Canadian Rig Count is up 74 rigs from last year's count of 83, with oil rigs up 40, gas rigs up 29, and miscellaneous rigs up 5.

If oil passes $70 a barrel, the U.S. could start pumping out an extra million barrels a day, offsetting much of the planned cut from the Organization of Petroleum Exporting Countries, according to a Citigroup Inc. analysis.

U.S. shale drillers are set to ramp up spending on exploration and production next year as recovering oil prices prompt banks to extend credit lines for the first time in two years.

U.S. Rig Count is down 47 rigs from last year's count of 700, with oil rigs down 15, gas rigs down 33, and miscellaneous rigs up 1. Canadian Rig Count is up 98 rigs from last year's count of 126, with oil rigs up 62, gas rigs up 31, and miscellaneous rigs up 5.

U.S. Rig Count is down 72 rigs from last year's count of 709, with oil rigs down 31, gas rigs down 42, and miscellaneous rigs up 1. Canadian Rig Count is up 72 rigs from last year's count of 162, with oil rigs up 45, gas rigs up 25, and miscellaneous rigs up 2.

The U.S. current account deficit decreased to $113.0 billion (preliminary) in the third quarter of 2016 from $118.3 billion (revised) in the second quarter of 2016, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit decreased to 2.4 percent of current-dollar gross domestic product (GDP) from 2.6 percent in the second quarter.

President-elect Donald Trump named the head of Exxon Mobil Corp, Rex Tillerson, as his choice for U.S. secretary of state on Tuesday and won backing from some Republican foreign policy figures ahead of a possible Senate fight over the oilman's ties to Russia.

December 2016 U.S. oil production will down 20 tbd, gas production will down 94 mcfd.