With the U.S. set to become a net exporter of crude oil for the first time in 2020, Asia is expected to be a focus for more shipments.
Oil demand in the first quarter of 2020 is expected to fall compared with a year earlier, the IEA said, noting it would be "the first quarterly decrease in more than a decade."
Defendants sought to sell oil to China in violation of sanctions.
The EIA on Feb. 11 cut its global oil demand growth forecast for this year by 310,000 barrels per day as the coronavirus outbreak dents oil consumption in China.
Rystad Energy now predicts global oil demand will grow by 820,000 bbl/d in 2020, down from a December forecast of 1.1 million bbl/d.
U.S. Energy Secretary Dan Brouillette also said that while LNG prices are the lowest they've been in years, "the future is still bright for LNG."
NextDecade’s facility approved by the Department of Energy.
Budget documents said a sale from the Strategic Petroleum Reserve would help raise funds for priorities including $242 million needed to fix a Naval Petroleum Reserve site in California.