Bakken production from North Dakota is forecast to fall 32,000 bpd, while production from the Eagle Ford formation is expected to drop 63,000 bpd.
Production from the Permian Basin in West Texas is expected to drop 7,000 bpd.
U.S. shale oil output is expected to fall in July for the seventh consecutive month. Total output is expected to fall 118,000 barrels per day (bpd) to 4.723 million bpd in July, according to the U.S. Energy Information Administration's (EIA) drilling productivity report. NOTE AGAIN: this is SHALE OIL production projected for July, 2016.Active rigs:
6/14/2016 | 06/14/2015 | 06/14/2014 | 06/14/2013 | 06/14/2012 | |
---|---|---|---|---|---|
Active Rigs | 28 | 75 | 187 | 184 | 214 |
RBN Energy: The Domino Effect audio book -- what the shale revolution really means.
By the way, what did the market do yesterday? Despite being a down day on the market, there were 112 new highs vs 38 new lows. New highs included: Duke Energy, XOM, Kellogg, NextEra, Xcel Energy.
Here's an investment idea: the German bond. Now paying .... drum roll ... zero percent. The German 10-year sovereign bond yield turns negative for first time. I would comment on the Greek bond as an investment, but I've never understood bonds. I understand what bonds are and why they exist; what I don't understand is how to invest in them. Of course, I could probably say the same about equities.
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Time to close out these two polls. The first poll in which we asked, if you had a vote, would you vote for OPEC to set production limits?
- yes: 52%
- no: 44%
- other: 4%
- good: 15%
- bad: 43%
- indifferent 40%:
- other: 1%
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