Wow! Look At This -- Active Rigs Up To 62 -- As Low As 56 Just A Few Weeks Ago -- April 24, 2018; WTI Flirting With $69 (Again)

Obama's revenge: yesterday I posted/commented on a story with a "Trump's Revenge" headline. For those following the US oil story, it's very clear that the US is suffering from "Obama's Revenge." Killing the Keystone XL almost single-handedly put the US in the situation it finds itself with the wrong kind of oil. Was this all calculated? 

Tea leaves in Kuwait: production will increase -- and will increase significantly -- in the out years.

Tea leaves in Saudi Arabia: Saudi Aramco will "lift" oil-trading volume to six million bopd, currently trading about 3.5 million bopd. Prince Salman is leading the change in Mideast strategy as the region continues to produce less oil Compare with:

• Vitol, the largest independent trader: 7 million bopd (previously mentioned on the blog)
• Shell:  12 million bopd (a publicly traded company)
• BP: 8 million bopd (a publicly traded company)

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Back To The Bakken

Where Fracking Is Always In Fashion

Active rigs:

$68.91↑↑	4/24/2018	04/24/2017	04/24/2016	04/24/2015	04/24/2014
Active Rigs	62	48	29	84	185

RBN Energy: Oklahoma -- processing plants, pipelines planned to keep pace with gas growth, part 2. Earthquakes in Oklahoma? That story is dead. Really, really dead. Apparently.