The Mexican government is reviewing whether to keep sending oil to Cuba amid growing fears within President Claudia Sheinbaum's administration that Mexico could face reprisals from the United States over the policy, which is a vital lifeline for the Communist-run Caribbean island, according to three sources familiar with the discussions. A U.S. blockade of oil tankers in Venezuela in December and the dramatic capture of President Nicolas Maduro this month have halted Venezuelan oil shipments to [Read more]

U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 1 to 544 in the week to January 23. Despite this week's rig increase, Baker Hughes said the total count was still down 32 rigs, or 5.6% below this time last year. Baker Hughes said oil rigs rose by 1 to 411 this week, their, while gas rigs were [Read more]

HOUSTON, Jan 23 - North Dakota crude output is currently down by 80,000 barrels per day to 110,000 bpd as operators shut production in due to cold weather, the state regulator said on Friday. "It is warming up next week so I don't anticipate any long term production impacts," said Justin Kringstad, Director of North Dakota Pipeline Authority. The state's well-head associated gas output was down by 0.24 billion cubic feet per day to 0.33 bcfd. (Reporting by Georgina McCartney in Houston) [Read more]

The United States, since its 2003 invasion of Iraq, has held effective control over the country's oil revenue dollars, giving Washington extraordinary leverage over Baghdad's affairs, with implications for regional dynamics involving Iran. How does the U.S. control Iraq's oil revenues? The U.S. control over Iraq's oil revenues primarily stems from the management of Iraq's oil income through the Federal Reserve Bank of New York. After the 2003 invasion, the Coalition Provisional Authority [Read more]

Oil production in North Dakota rose 12,000 barrels-per-day (bpd) to 1,189,000 bpd in November, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,159,000 bpd in the month. The data was released on the North Dakota Industrial Commission's general statistics webpage and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission's monthly index report, also available on its website. [Read more]