Pembina Pipeline, Low U.S. Rig Count: 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.

CRUDE OIL
Oil Shows Second Weekly Gain - Oil prices settled 5% higher on Friday in their second consecutive week of gains as U.S. producers cut production. Brent crude settled up $1.51, or 5.1%, at $30.97 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.19, or 5%, to $24.74 a barrel. (Reuters)

PRODUCTION
Number of Active U.S. Oil & Gas Rigs Falls to Historic Low - The number of operating oil and natural gas rigs fell to an all-time low - reflecting data going back 80 years - as the energy industry slashes output and spending to deal with the coronavirus-led crash in fuel demand. The rig count, an early indicator of future output, fell by 34 to a record low of 374 in the week to May 8 according to data on Friday from energy services firm Baker Hughes going back to 1940. (Reuters)

EARNINGS REPORTS
Pembina Pipeline Net Revenue Rises - Canada's Pembina Pipeline (NYSE:PBA) reported first-quarter 2020 net revenue of C$865 million ($620.7 million), compared with C$774 million ($555.4 million) in the prior-year quarter. (PR Newswire)

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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, six offices in North America and 12 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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.