Slipping U.S. Oil Production, Cheniere Energy Tax Break, U.S.-Venezuela Oil Sales: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

PRODUCTION
EIA: U.S. Crude Oil Production Fell for Second Consecutive Month in December - U.S. oil production fell for the second consecutive month in December to its lowest level since June last year, while demand reached a multi-month high, the U.S. Energy Information Administration (EIA) said on Friday. Crude oil output averaged 13.66 million barrels per day (BBL/d) in December, down about 133,000 BBL/d from November, the EIA said. That was the largest month-over-month decline in U.S. oil output since January 2025, when adverse weather caused shut-ins at major production centers. Total U.S. petroleum demand rose 624,000 BBL/d to 20.85 million BBL/d in December, the highest since August. Gasoline demand rose 101,000 BBL/d to 8.78 million BBL/d in December, while demand for distillate fuels rose 16,000 BBL/d to 3.81 million BBL/d, the EIA data showed. (Reuters)

VENEZUELA
U.S. Energy Secretary: Oil Sales Under U.S.-Venezuela Deal Expected to Reach $2 Billion in February - Sales under a flagship oil supply agreement between Venezuela and the U.S. were expected to reach US$2 billion by the end of February, U.S. Secretary of Energy Chris Wright told reporters in Texas last week. The U.S. took control of Venezuela's oil exports shortly after U.S. forces captured President Nicolas Maduro in early January, with proceeds going to a U.S.-supervised fund in Qatar. (Reuters)

LNG
Cheniere Gets $370 Million Alternative Fuel Tax Break - U.S. liquefied natural gas (LNG) producer Cheniere Energy disclosed last week that it got a $370 million tax break from the Trump administration for burning LNG in its tankers, a credit critics said was meant for far smaller boats. The company said on Thursday in financial disclosures that it had won the alternative fuels tax break from the Internal Revenue Service (IRS). The tax credit was in a law signed by former President George W. Bush in 2005 that was designed to subsidize an array of alternative fuels derived from sources including biomass, coal and natural gas. The credit was designed to be claimed by parties operating motor vehicles or motorboats. The IRS does not define the size of a motorboat, but other federal regulations define them as smaller than 65 feet long, tiny compared to LNG tankers, which can measure be 900 feet long. (Reuters)

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).