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Friday, July 8, 2016

Week 27: July 3, 2016 -- July 9, 2016

The US stock market surges to new highs or near-new highs despite Brexit.  It was "lifted" by a great jobs report, though the underlying data is not particularly supportive.

The US is coming very close to a new record: more than 10 million bbls/day of "gasoline delivered." Record storage at Cushing noted. There is further evidence that OPEC is severely pinched.

US propane exports: one of the top US energy stories of the decade. It just never quits: the shale boom's new winner -- propane.

And possibly the story of the century: US holds more oil reserves than either Russia or Saudi Arabia

Operations
Rystad Energy suggests that decline in Bakken production is due to "temporary" issues 
Decline rates "way down"

Bakken 101
Bakken OOIP; Saudi Arabia's OOIP; Proved, Probable, Possible Reserves

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