Observation: the narrative that OPEC and IEA are now pressing -- "re-balancing was almost achieved" in 1Q17 and OPEC and IEA are now suggesting re-balancing will accelerate in 2Q17 leading to supply constraints by the end of the year (2017). WTI is down at the moment (12:20 Central Time), again below $49.
Futures: looking good. Dow 30 futures up 40 points.
$60: in 2017? --
Rigzone. Wood Mackenzie -- based on survey of 170 industry professionals --
- $50 - $60 in 2017
- $60 - $80 in 2020
- the article does not specify, but it appears Wood Mackenzie is talking about Brent; WTI has been trending $$3 - $5 less
Sprayberry: USGS releases assessment.
At this link, click on the graphic. A pdf will load. In light of "WannaCry" ransomware, proceed at your own risk.
Balanced? IEA suggests that "rebalancing" will accelerate now that "we" have achieved "almost balanced" in 1Q17.
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