Oil down again, today. Down over 2%. Around $48.65. [Later: now, down almost 4% and well below $48. I guess Prince Salman was not kidding: he doesn't care if oil goes to zero. Posted, 10:53 a.m. Central Time.]
RBN Energy: continuing the series -- new infrastructure to help Corpus Christi keep pace with Permian growth.
Market opening: NASDAQ scores another record high. WTI continues to fall; at $48.26.
Global glut: there's a meme out there that "OPEC and Russia will do whatever it takes to 'stabilize' the market." LOL. They can start by looking at this graph:
Note how much higher OPEC production is today -- after the production cuts -- than it was in 2014, prior to the production cuts. I guess it's how one defines "production cuts."