Explaining The Bump In Heavier Crude Oil In North Dakota -- RBN Energy -- April 3, 2024

Locator: 46902B. 

EIA weekly petroleum report, link here:

• US crude oil in supply increased (needs to be fact-checked) by 3.2 million bbls; inventories are 2% below the five-year average
• refiners: 88.6%
• jet fuel: up 1.2%

AAPL:

Personal investing:

• by rule, CAT, VZ, and UNP
• by rule, I cannot buy any more AAPL
• by rule, sold CIVI
  

Reminder: I am inappropriately exuberant about the US economy and the US market, I am also inappropriately exuberant about all things Apple.

See disclaimer. This is not an investment site.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

Reminder: I am inappropriately exuberant about the US economy and the US market, I am also inappropriately exuberant about all things Apple.

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Back to the Bakken

WTI: $85.92. Let's call it $86!

Thursday, April 4, 2024: 4 for the month; 4 for the quarter, 203 for the year
36083, conf, Hess, BB-Federal A-LS-151-95-1615H-10,

Wednesday, April 3, 2024: 3 for the month; 3 for the quarter, 202 for the year
36082, conf, Hess, BB-Federal A-LS-151-95-1615H-11,

RBN Energy: explaining the bump in heavier crude oil production in Texas, New Mexico, and North Dakota. Archived.

The Energy Information Administration (EIA) recently raised a few eyebrows across the energy industry with a report that producers in three key shale states — including Texas, the nation’s #1 oil producer — seem to be extracting larger amounts of “heavier” crude oil. Of course, the oil is only heavier relative to the light and superlight grades that have been produced in copious amounts since the dawn of the Shale Revolution. But these denser, lower-API volumes have recently helped drive growth in total crude output. In today’s RBN blog, we unpack what the EIA discussed in its writeup, explore some of the possible drivers behind the apparently heavier oil production, and discuss what it might mean for the domestic market.