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Focus On Fracking -- February 20, 2022
Link here. The lede:
- oil supplies at a 13-year low;
- oil + products supplies at a 7 1/2 year low;
- DUCs down 40% YoY, lowest since Jan 2014
- US oil supplies are at a 13-year low,
- Strategic Petroleum Reserve at a 19-year low;
- total oil + products supplies at a 7 1/2-year low;
- distillate supplies are at 26-month low after refinery freeze offs;
- DUCs down 40% YoY and are lowest since Jan 2014 with DUCs in 4 basins at record lows;
- 5.0 month DUC backlog is lowest in 7 years;
- natural gas rigs rise most in 57 months
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