- OPEC + Russia: currently they have agreed to keep 1.8 million bopd through March, 2018
- the extension would take them to the end of December, 2018
- not likely to deepen the cuts
- the extension is pretty much a no-brainer but Iraq, Iran, and a few others will say one thing, do another
- unfettered, North Dakota could go to 2 million bopd in less than a few months (up from one million bopd now)
- Texas (the Permian and the Eagle Ford) could easily add another 1.5 million bopd
- OPEC: note the 1.8 million bopd above
- SCOOP/STACK; Niobrara; Alaska: could easily add another 0.5 million bopd or more
Dow 30: surges 113 points on opening. Late afternoon trading, up 160 points.
NYSE, new highs, 101, including -- JPM, UnitedHealth Group
- new lows: 30
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