Total US energy production increases by 31% from 2017 through 2050 in the reference case, led by increases in the production of renewables other than hydropower, natural gas, and crude oil, the US Energy Information Administration’s latest annual energy outlook suggested. Source: News

In its latest Short-Term Energy Outlook, the US Energy Information Administration forecasts US crude oil production to average 10.6 million b/d in 2018 and 11.2 million b/d in 2019, both of which are 300,000 b/d higher than forecast in the January STEO. Source: News

Plans by Ineos Shale for core-well drilling in the East Midlands of England have met resistance from local officials. Planning committee members of the Derbyshire County Council voted 9-1 to reject a recommendation that the test be approved.  Source: News

US commercial crude oil inventories, which exclude the Strategic Petroleum Reserve, increased 1.9 million bbl during the week ended Feb. 2 from the previous week. Source: News

Falling oil production has pushed hard-pressed Venezuela into “a deeper phase of economic stress,” warns Moody’s Investors Service. Because of mismanagement and underinvestment, Venezuelan production is falling faster than crude-price stabilization can offset financially, Moody’s says in a research note.   Source: News

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 16/1-29 S. The well’s drilling program relates to the drilling of a wildcat well in production license 167 that was awarded on Mar. 1, 1991, in the 13th round. This is the sixth exploration well to be drilled in the license. […]

Petrobras is moving forward with its previously announced proposal to sell subsidiary Pasadena Refining Systems Inc.’s refinery in Pasadena, Tex., in compliance with the Brazilian operator’s divestments portfolio and a divestment plan from Brazil’s Federal Court of Accounts, or Tribunal de Contas da Uniao. Source: News