Market And Energy Page, Part II -- March 14, 2017

From David Sheppard, via twitter:

Goldman Sachs is sounding almost as rattled as the Saudis. Backwardation call has taken a bit of a shoeing in the past week.

Also from twitter:

Trump tax cut may save oil explorers $10 billion, boost drilling. Link provided. 

Javier Blas at twitter has document suggesting the Saudis are really rattled, saying ...

"the difference between what the market observes as production, and the actual supply levels in any given month, is due to operational factors that are influenced by storage adjustments."

How does one explain:

• OPEC exports in February exceeded those in January?
• Kuwait has added significantly more rigs since the November, 2016, meeting?

Operational factors? LOL.

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Closing

Dow 30: closed down 0.2% or about 45 points

WTI: settles at $47.99. Let's call it $48.