U.S. Oil Production, Suncor Strategy Shift: 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. Oil Output Fell Sharply During January Storm - U.S. crude oil output fell by the most in two years during January following a severe winter storm that knocked production offline in large swathes of the country, data from the U.S. Energy Information Administration (EIA) showed on Tuesday. U.S. crude oil output fell 410,000 barrels per day (BBL/d) month over month in January to 13.25 million BBL/d, the lowest ⁠since February 2025, the EIA data showed. Total U.S. crude oil and petroleum products consumption, meanwhile, fell 201,000 BBL/d to 20.7 million BBL/d in January, the lowest since November 2025, the EIA said. (Reuters)

Suncor Plans Major to In-Situ Oil Sands Production - Canada's Suncor Energy said on Tuesday the majority of its bitumen output by 2040 will be produced using steam-assisted extraction technology, an announcement that marks a significant structural shift for the oil sands heavyweight and which the company said will result in lower costs and higher cash flow over the long term. Currently, 70% of Suncor's oil sands crude is produced at its large-scale mining operations in northern Alberta, where trucks and shovels are used to extract the thick, heavy bitumen deposits that are close to the surface. The remaining 30% comes from deeper ⁠deposits that require the use of steam technologies, a method called in situ, to loosen the oil underground before it can be pumped to the surface. But over the next 15 years, Suncor's production mix will shift so that by 2040, 60% of its oil sands barrels will come from in situ developments, and just 40% from mining, Chief Executive Rich Kruger said at an investor day presentation. (Reuters)

U.S. Exempts Gulf Drillers from Endangered Species Act - A committee of senior officials in President Donald Trump's administration voted on Tuesday to exempt the Gulf of Mexico oil and gas industry from the federal Endangered Species Act meant to protect endangered species including whales, birds and sea turtles. The decision, the first of its kind in more than three decades, is the latest government effort to unwind environmental regulations that Trump says hold back domestic energy production. "We cannot allow our own rules to weaken our standing and strengthen those who wish to harm us," Secretary of Defense Pete Hegseth said during the livestreamed meeting. "So for these reasons, exemption from the Endangered Species Act in the Gulf is not just a good idea, it is a critical matter of national security." The panel's six senior members, who include the ⁠heads of the Interior Department, Agriculture Department, Environmental Protection Agency and others, voted unanimously in favor. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

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).