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• Oxy trims shale in push to pay down debt
  Occidental Petroleum is reprioritizing its financial strategy with plans...
  Occidental Petroleum is reprioritizing its financial strategy with plans to reduce its investment and activity in US shale operations by $320 million in a bid to increase cash flow and reduce its borrowing levels. As a result of the spending cuts, Occidental's oil production will remain mostly stable for the year as the firm shifts its investment focus to other areas of the business.
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• Bayswater moves on DJ Basin with Confluence deal
  Denver-based energy company Bayswater Exploration & Production has...
  Denver-based energy company Bayswater Exploration & Production has purchased several key assets located in the Denver Julesburg basin from Confluence Resources LP. The newly acquired holdings near Roggen include multiple producing wells, undeveloped wells and necessary permits, giving Bayswater significant growth potential in the region.
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• PPI report reflects U.S. wholesale inflation rate of 0.3% in January
  The numbers: Wholesale costs rose in January at the...
  The numbers: Wholesale costs rose in January at the fastest rate in five months, possibly another sign that inflation won’t slow toward the Federal Reserve’s 2% target as fast as hoped.
  
  The 0.3% increase in the producer price index last month was larger than the 0.1% forecast of economists polled by The Wall Street Journal. The rise in wholesale inflation over the past 12 months ticked down to 0.9% from 1.0%, however.
  
  Core wholesale prices, which exclude food, energy and trade margins, rose an even sharper 0.6% in January. That was the biggest increase in a year. The 12-month rate of core wholesale inflation was unchanged at 2.6%.
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• ☕️What Else is Brewing Friday Morning
  A decision in a civil trial...
  A decision in a civil trial against former President Donald Trump and the Trump Organization is expected today, marking the end of a case that may limit the company's ability to operate in the state of New York. 
  
  Prosecutors allege the firm manipulated the value of its real estate assets for financial and tax purposes. No jury is involved in the case—Judge Arthur Engoron previously found the Trump Organization committed fraud, with only the penalty to be determined. See our previous write-up here. 
  
  Special counsel David Weiss charged a former FBI informant with lying about President Biden and his son Hunter’s alleged role with the Ukrainian company Burisma.
  
  Japan fell behind Germany and became the world’s fourth-biggest economy after an unexpected slip into recession.
  
  The White House confirmed reports that Russia has obtained a “troubling” anti-satellite weapon, but said it is not capable of causing destruction on Earth.
  
  Waymo issued its first-ever recall after a software problem caused two of its self-driving cars to crash into a truck in Phoenix.
  
  Instagram and Threads, both owned by Meta, will stop recommending political content to users unless they specifically opt in.
  
  Fani Willis, the Fulton County district attorney prosecuting the Georgia election interference case against former President Trump, testified at a hearing yesterday over an alleged improper relationship with a lawyer she appointed to the case.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for March delivery ...
  Benchmark U.S. crude oil for March delivery rose $1.39 to $78.03 per barrel Thursday. Brent crude for April delivery rose $1.26 to $82.86 per barrel.
  
  Wholesale gasoline for March delivery was unchanged at $2.32 a gallon. March heating oil rose 1 cent to $2.82 a gallon. March natural gas fell 3 cents to $1.58 per 1,000 cubic feet.
  
  
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