Apple: with next release of its smart phones, it is being reported that it is unlikely that Apple will ship power adapters or AirPods in the box. That just shows how much the Apple iPhone has penetrated the market.
Saudi: will raise official selling price for China.
OPEC basket: $37.33 -- again, for newbies, this has to be incredibly concerning for Saudi; it goes down again overnight; the price is not clawing its way back to $40; link here;
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COP: sees 2Q20 production 5% below that of previous quarter.
Back to the Bakken
Wells coming off the confidential list today -- last day of the second quarter -- Tuesday, June 30, 2020: 73 for the month; 218 for the quarter, 445 for the year:
- 37048, drl/drl, CLR, Simmental Federal 9-16H1, Elm Tree,
- 36888, drl/drl, Murex, Sophia Drake 25-36H-R, Sanish,
- 36887, drl/drl, Murex, Amber Renee 25-36H-R, Sanish,
- 36785, drl/A, Kraken, Double Eagble 33-3 1H, Sanish, t--; cum 99K in four months;
- 35666, SI/NC, Zavanna, Stranger 28-21 2H, Poe, t--; cum 123K in four months, including a 49K month;
U.S. exports of motor gasoline and diesel to Mexico increased steadily from 2013 through 2018 as demand for refined products south of the border increased and throughput at Pemex’s six older, investment-starved refineries declined. U.S.-to-Mexico shipments of gasoline and diesel sagged in 2019, though, as Pemex started to implement a major refinery rebuilding program, and fell further in the spring of 2020 as the social and economic effects of COVID kicked in and Mexican demand for motor fuels plummeted. So what’s ahead for U.S. refined product exports as Mexican demand gradually rebounds later this year and in 2021? As we discuss today, that will largely depend on the Mexican government’s determination to have its debt-laden energy company produce gasoline and diesel at a loss and proceed with expensive refinery projects.