The Energy And Market Page, T+116 -- May 16, 2017; Peak Oil? What Peak Oil? USGS Releases Sprayberry Assessment

Observation: the narrative that OPEC and IEA are now pressing -- "re-balancing was almost achieved" in 1Q17 and OPEC and IEA are now suggesting re-balancing will accelerate in 2Q17 leading to supply constraints by the end of the year (2017). WTI is down at the moment (12:20 Central Time), again below $49.

Futures: looking good. Dow 30 futures up 40 points.

$60: in 2017? -- Rigzone. Wood Mackenzie -- based on survey of 170 industry professionals --

• $50 - $60 in 2017
• $60 - $80 in 2020 
• the article does not specify, but it appears Wood Mackenzie is talking about Brent; WTI has been trending $$3 - $5 less

Sprayberry: USGS releases assessment. At this link, click on the graphic. A pdf will load. In light of "WannaCry" ransomware, proceed at your own risk.

Balanced? IEA suggests that "rebalancing" will accelerate now that "we"  have achieved "almost balanced" in 1Q17.