Rigs targeting oil in the U.S. fell by 28 to 439, after more than 1,000 were idled over the past year and a half, Baker Hughes Inc. said. Supplies at Cushing, Oklahoma, the biggest U.S. oil-storage hub, rose to a record 64.7 million barrels last week. Source: Bloomberg
The United States imposed sanctions on a Russian port service agency and Chinese firms for aiding North Korean ships and selling alcohol and tobacco to Pyongyang in breach of U.S. sanctions. Source: Reuters
il production from Tullow Oil’s offshore Tweneboa, Enyenra and Ntomme (TEN) field in Ghana is expected to hit full output capacity of 80,000 barrels a day by 2020. Source: Reuters
Iraq and Turkey must reach a deal with the Kurdistan Regional Government (KRG) first in order to export oil from the Kirkuk fields in northern Iraq via Turkey. Source: Oil Price
