- Saudi Arabia's oil production jumped by nearly 500,000 barrels per day in June as it aims to put more supply into the market to tame the cost of crude
- output from the 15-member producer group OPEC was up 173,000 bpd as the group prepares to lift production caps in place since 2017
- OPEC forecast that global oil demand will cross 100 million bpd for the first time in 2019, but warned trade tensions could negatively impact the market
- no mention that Saudi production always goes up in the summer, but this might be a bit earlier than usual, and a bit more than usual for June
- no mention that Saudi is increasing its own domestic refining and processing
- production numbers important; export numbers more important
Back to the Bakken
Director's Cut scheduled to be released, Friday, July 13, at 3:00 p.m.
Coming off the confidential list today --
- 34070, 1,200, Hess, AN-Double Bar V-152-95-0106H-2, Antelope, Sanish; t5/18; cum 16K over first 15 days;
- 33962, SI/NC, Crescent Point Energy, CPEUSC David 5-29-32-157N-99W MBH, Lone Tree Lake,
- 33551, 1,385, Liberty Resources, Esther 158-93-28-33-4MBH, Enget Lake, 27 stages, 9.45 million lbs, large, t1/18; cum 100K 5/18;
RBN Energy: how the IMO's low-sulfur bunker rule may impact the refining sector.