the U.S. unemployment rate rose to 4.4 percent

U.S. Rig Count is down 64 rigs from last week to 664, Canada Rig Count is down 13 rigs from last week to 41

The OPEC+ crude oil exporter group is debating cutting global supply by 10 million barrels per day

"It's impossible to take measures to reduce OPEC+ production by 20 million b/d, this is probably half of all countries' total production," Novak said

Russian energy minister Alexander Novak said a coordinated OPEC+ production cut would not be enough to compensate for the fall in demand caused by the coronavirus pandemic, which he said could reach 20 million b/d.

Urals crude, Russia’s export blend, is now trading firmly below $20 a barrel, a level which could equate to a budget deficit of 2% of gross domestic product this year,

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $39.9 billion in February, down $5.5 billion from $45.5 billion in January, revised.

Saudi Arabia is following through on its threat to flood the market, after Russia last month rejected a Saudi-led OPEC proposal for significant production cuts to backstop already sliding oil prices from the coronavirus pandemic's impact on the global economy.

Podcast/Audio - US lawmakers from oil-producing states are trying to increase pressure on the White House to do something to help drillers getting hammered by plummeting prices -- from aggressive diplomacy to banning crude imports.

U.S. Commercial crude stocks jumped 13.83 million barrels to 469.19 million barrels during the week

China is boosting U.S. energy imports at a time when the world is swamped with excess supply after the Organization of the Petroleum Exporting Countries (OPEC) and Russia failed to extend production cuts and as measures to curb the spread of the coronavirus undermined demand.

The Dow Jones Industrial Average .DJI fell 410.32 points, or 1.84%, to 21,917.16, the S&P 500 .SPX lost 42.06 points, or 1.60%, to 2,584.59 and the Nasdaq Composite .IXIC dropped 74.05 points, or 0.95%, to 7,700.10.

The preliminary level for dry natural gas production in January 2020 was 2,930 billion cubic feet (Bcf), or 94.5 Bcf/d. This level was 5.9 Bcf/d (6.7%) higher than the January 2019 level of 88.6 Bcf/d.

TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it will proceed with construction of the Keystone XL Pipeline Project (the Project), resulting in an investment of approximately US$8.0 billion into the North American economy.

Putin and Trump discussed the oil market at a time when prices continue to tumble due to the collapse of the OPEC+ crude production cut agreement, and the major economic impact of the coronavirus pandemic.