Week 50: December 11, 2023 -- December 17, 2023

Locator: 46313TOPSTORY. 

Pending. In case I get busy during the holiday season, putting up the template now.

Top story:

• both Ford and GM throw in the EV towel;
• decision announced during COP28 [John Kerry’s annual global warming fete, this year held in oil-rich Dubai]
• conference turned out to be opportunity for oil companies to huddle

Top international non-energy story:

• Israeli military: kills three hostages; mis-identifies as enemy combatants
• on the battlefield, thinks look bleak for Ukraine: Zeleskyy’s Biden visit appears to be unsuccessful 
• diplomatically: a huge tune of events — discussion turns to admission into EU; if that occurs, it changes everything; NATO discussion next? Nope, a bridge too far.
• China’s economy grows the fastest in two years.

Top international energy story:

• COP28: "member states will transition away from fossil fuel"
• IEA: oil demand growth will be less than originally forecast by IEA but demand will still grow by a million bopd

Top national non-energy story:

• market rally: epic; historic
• the Fed telegraphs end of rate hikes; telegraphs as many as three rate cuts in 2024
• California: record budget deficit — $68 billion.

Top national energy story:

•  WTI: back to $71

Focus on fracking: link here.

Top North Dakota non-energy story:

•  governor drops out of US presidential race

Top North Dakota energy story:

• all eyes on state, US Army Corps, and DAPL; reaching closure?
  

Geoff Simon's  quick connects: link here.

Bakken economy:

• active rigs number about 35
• XTO has rig in the Bakken for first time in years;
• WPX eyes a new 10-well pad;

Commentary: