Daily News Energy Headlines from March 17, 2016

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

CRUDE OIL
U.S. Oil Price Reaches 2016 High - On Thursday, U.S. crude oil for April delivery traded at a 2016 high of $40.08 per barrel as oil producers including Russia and Saudi Arabia agreed to meet in April, paving the way for a potential global supply deal.

Saudi Arabia's January Crude Exports Highest in Nine Months - Saudi Arabia's crude oil exports in January were 7.835 million barrels per day (BBL/d) in January, marking the highest export amount in nine months. Production of 10.23 million BBL/d was a record high.

FINANCIAL
Oil Investors See $7.4 Billion in Lost Dividends - Bloomberg reports that dividend cuts from oil producers have cost investors a total of $7.4 billion, with Kinder Morgan Incorporated's (NYSE:KMI) cuts being the largest, amounting to $3.44 billion over 2016.

Caterpillar Gives First-Quarter Guidance - Caterpillar Incorporated (NYSE:CAT) released its first quarter earnings forecast, reporting that sales would be between $9.3 billion and $9.4 billion--lower than analysts' estimates. The company has seen its sales of engines and turbines and other energy-related equipment deteriorate.

REFINING
Shell, Saudi Aramco to End Motiva Joint Venture - Royal Dutch Shell (NYSE:RDS-A) and Saudi Aramco have announced that they plan to end their 50:50 Motiva refining joint venture, which owns refineries in Texas and Louisiana.

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About IIR Energy
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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.