Peak Oil? What Peak Oil? -- September 28, 2018 -- End-Of-Month Round-Up

WTI: closes solidly above $73. Data points:

• Iranian sanctions: would remove 1.5 million bopd from global market
• Saudi Arabia will boost production by 0.5 million bopd in 4Q18

Saudi boost: Saudi Aramco to boost oil capacity by over one-half million bopd in 4Q18 -- link at Reuters

Iran: reported earlier that by November or so, South Korea would no longer be importing Iranian oil. Now it is being reported that China's top refiner will halve Iranian oil imports.

US crude oil production: staggering -- Rystad Energy. Link here.

US crude oil production, July, 2018: just short of 11 million bopd. 

Chevron: growing volume will support a growing dividend. -- SeekingAlpha.

US natural gas:

• fill rate well below 5-year average and the gap is not closing
• New England could face natural gas shortage over next month or so
• natural gas being diverted from New England to Florida
• Florida: #1 electricity producer in US; #2, Texas
• Florida: converting from coal to natural gas