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Production, Rig Count Surge As Exxon Bets Big On U.S. Shale

Production, Rig Count Surge As Exxon Bets Big On U.S. Shale US oil rig counts rose for the7th straight week (up 7 to 609) to the highest level since October 2015.  With production surging back above 9mm b/d – the highest in a year – the trend in the rig count implies considerably more production to […]

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Crude Surges After Surprise Inventory Draw, Biggest Production Decline Since 2013

Crude Surges After Surprise Inventory Draw, Biggest Production Decline Since 2013 Total US crude production slumped over 1.5% last week – the biggest decline since October 2013.   Add to that a considerable inventory draw of over 4.2mm barrels (against expectations of a build)…   and crude prices are surging.     Charts: Bloomberg  

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Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down

Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down Oil resumed its decline after the biggest gain since June 2012 as U.S. crude production increased, adding to signs that the global supply glut that has pushed prices to a 5 1/2-year low will persist. West Texas Intermediate futures dropped as much as 2.7 […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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