ISIS Advancing Deeper Into Northern Syria; US Negotiating With Yemen Rebels; OPEC Losing Its Clout; And ND Rig Count Remains Unchanged -- June 10, 2015

WSJ headline story: ISIS advances further into northern Syria, the Aleppo Province. I might read the story later, but I doubt it. It's not that we've seen this movie before: we're seeing this movie in real time and already know the ending.

Also from the WSJ: the US which has a policy of not negotiating with terrorists, is apparently doing just that, negotiating with Yemen rebels. 

Also in today's WSJ: OPEC-US oil tussle takes toll on Nigeria. Regular readers were already well aware of that story, also.

And finally this story, also from the WSJ: OPEC clout hits a low.

The Organization of the Petroleum Exporting Countries used to demonstrate its power by forcing prices higher with production cuts or steadying them by flooding the market with oil. But OPEC’s meeting that starts Friday will instead demonstrate how that power has decreased, Bill Spindle, Summer Said and Benoit Faucon report. OPEC delegates expect the group to leave its output ceiling of 30 million barrels a day untouched, just as it did at its most recent meeting in November.

And that article links to another WSJ article, OPEC's pricing leverage is weakening. 

It's not a pretty picture for OPEC. Saudi Arabia "balances" its budget on $100 oil and that's when they are not fighting a war. Now they are giving their oil away for $60/bbl; borrowing money to maintain their (huge) cash reserves, and, fighting a war on their southern border.

But enough of that, time to get back to the Bakken.

Active rigs in North Dakota:

	6/1/2015	06/01/2014	06/01/2013	06/01/2012	06/01/2011
Active Rigs	80	189	187	215	173

It looks like the June, 2015, index failed to load today. So, all I have at the moment is the two new permits issued today:

• Operator: Crescent Point (2)
• Fields: West Ambrose (Divide)
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