Lede: oil production at 32-month low in wake of Hurricane Laura; gasoline demand, LNG exports, oil imports, and refining all "hit" by the hurricane and its aftermath.
Other News
Reminder: word of the day -- ullage.
OPEC basket, link here: stabilizes at $43.42.
Brazil: Total wants out. Link here.
Road to Venezuela: Mexico shuts the door to foreign oil companies. Mexico has an infrastructure plan to stimulate economic growth without outside "help." Link here. Will Mexico's crude oil production drop below one million bopd?
Good while it lasted: oil supertanker windfall disappears. Link here.
- supertankers can carry 2 million bbls of crude oil;
- day rates, the benchmark route from the Middle East to China
- OPEC+ alliance continues to curb output and exports
- at same time, China has curbed purchases following a buying binge when oil was cheap (hello: oil is still really, really cheap)
- six months ago: $250,000
- today: $6,103
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As We Called It In Military: The Three-P's
Piss-poor planning? I posted this earlier --
The US grid, rolling blackouts associated with:
- third-world countries
- piss-poor planning
- renewable energy scams
Los Angeles County experiencing its annual heat wave -- yes, it occurs annually -- some years worse than others -- but apparently after all these decades, no one has planned for it -- by the way, how's that bullet train working out? -- it appears that upwards of three million Angelinos will get the opportunity to experience this piss-poor planning with rolling blackouts. Link here. And we haven't even seen the EV revolution yet.
And speaking of really, really piss-poor planning, going to the hair salon during the lock down:
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