U.S. Rig Count is down 2 rigs from last week to 263, Canada Rig Count is up 5 rigs from last week to 18

U.S. commercial crude oil inventories decreased by 7.2 million barrels from the previous week.

About 20% of U.S. energy consumption in 2019 came from sources other than fossil fuels

This is a record high monthly volume from the US, and made it the largest LPG supplier to China in May. It eclipsed the previous record high monthly import from the US of 475,092 mt in December 2017, historical customs data showed.

AGDC has revised the cost of the project by US$5.5bn,

U.S. Rig Count is down 1 rigs from last week to 265, Canada Rig Count is down 4 rigs from last week to 13

The average spot price of natural gas at the Henry Hub reached $1.38 per million British thermal units (MMBtu) on June 16, 2020, the lowest daily Henry Hub price without adjusting for inflation and in nominal dollars since December 1998,

U.S. commercial crude oil inventories increased by 1.4 million barrels from the previous week to 540.7 million barrels

Weekly US crude oil exports averaged 3.16 million b/d for the week ended on June 19

South Korean refiners imported 7.407 million barrels of US crude in May, compared with 11.516 million barrels a year earlier,

A mild winter and COVID-19 mitigation efforts have led to declining global natural gas demand and high natural gas storage inventories in Europe and Asia, reducing the need for LNG imports.

With many office buildings left empty through the summer months, demand for electricity to power offices, as well as restaurants, hotels and music venues is expected to drop significantly.

Plummeting wind, solar, and storage prices have fallen so fast that the United States can reach 90% clean electricity by 2035 – without raising customer costs at all from today’s levels, and actually decreasing wholesale power costs 10%.

U.S. Rig Count is down 13 rigs from last week to 266, Canada Rig Count is down 4 rigs from last week to 17

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.2 million barrels from the previous week. At 539.3 million barrels, U.S. crude oil inventories are about 15% above the five year average for this time of year.