- An oil tanker was struck by an "external" source off the coast of Jeddah, a port city along the Red Sea
- The tanker, BW Rhine, was filled with nearly 60,000 tonnes of gasoline, according to shipping data from Refinitiv
- This new attack comes after a missile struck a Saudi fuel distribution center in Jeddah on November 23. The Red Sea is a vital shipping lane for global energy supplies
- Iran announces oil production plans for 2021 as the country expects a loosening of U.S. restrictions
- Oil Minister Bijan Namdar Zanganeh told lawmakers the government aims to pump 4.5 MMBbl/d of oil and gas condensate
- The oil minister also said Iran would increase oil exports to 2.3 MMBbl/d, provided that the U.S. eases sanctions
- The Baker Hughes oil rig count gained 15 rigs to bring the total gas rig count to 338
- The major basins, Permian, Eagle Ford, and Denver-Julesburg, added 4, 3, and 1 rig, respectively