U.S. Oil Rig Count, China LNG Imports, Oil Supply vs. Demand: 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
U.S. Drillers Cut Oil Rigs - U.S. energy firms reduced the number of oil rigs operating for a second week in a row. Drillers cut one oil rig in the week ending June 14, bringing the total count down to 788, the lowest since February 2018. (Reuters)

IEA: Next Year's Oil Supply to Swamp Demand - Global oil supplies will increase far more than demand next year, with the start of a host of new projects, the International Energy Agency (IEA) said. Even though growth in world oil demand will accelerate to 1.4 million barrels a day (BBL/d) in 2020, it will be eclipsed by a 2.3 million-BBL/d surge in output, as the ongoing boom in U.S. shale is augmented by new fields in Brazil, Norway and Canada. (Houston Chronicle)

LNG
Australia Supplies Bulk of China's LNG - This Reuters articles discusses how Australia's fast-expanding liquefied natural gas (LNG) industry has this year been supplying the lion's share of China's growing demand. Australia supplied more than 53% of China's LNG imports during the first five months of 2019, shipping data in Refinitiv showed, up from around 40% in 2016 when a previous round of new Australian export projects started to ramp up.

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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, eight 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 https://www.industrialinfo.com.