Non-OPEC supplies rose by 570,000 barrels per day in July to 54.9 million barrels a day, with North America providing around 40 percent of the growth, said the IEA, with Canada rather than the U.S. responsible for most of this increase.All we did was irritate our neighbors (and closest ally and biggest trading partner) to the north.
But then this administration has thrown a lot of folks under the bus.
Oil futures up nicely today. Crude oil inventories continue to fall, but less than expected. There is a very, very nice graph and great detail at the link (a MarketRealist article).
Wells coming off the confidential list today have been posted. Enerplus has a couple of nice wells.
Great, great, great RBN Energy article -- devoted to North Dakota's electrical generation capacity. This is a must-read for all NoDaks.
Libya is getting out of the oil business. Exports down to about 400,000 from 1 million bpd earlier this year. Maybe they will sell sand for fracking.
Active rigs: 183
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WSJ Links
While waiting for Target-Starbucks to open, I read the print edition of the WSJ -- I don't often get that chance. There wasn't much to report: Alice Cooper's mansion in Connecticut in 1971; the luxury car market in China; and, investors sour on municipal bonds. Three cities in Michigan have pulled back/delayed planned bond issues.
While visiting family in Boston, we toured some of the Connecticut mansions, so the Alice Cooper story resonated. A nice article. Alice now lives with the Bakken millionaires in Phoenix. As in Arizona.
Here is the article on Michigan; it's not worth reading unless you enjoy schadenfreude.
Finally, the luxury market in China. Here's the link, but I think I will do this one as a stand-alone; it's an important article.
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