Expensive Oil

Oil Declines in New York Amid Signs of Higher U.S. Supply at Bloomberg.

June oil production in North Dakota was higher by 20k b/d over May and 71% higher year over year (June 2011 was weather depressed) (Mark Perry).  When the revised Texas numbers come out we’ll see an bigger party down there:  Mark Perry.

Mixed results in the Utica and not much oil:  Ohio.

Offshore oil rigs drilling deeper than ever at Globe and Mail.  Yes, new oil production to offset natural declines is very expensive.

China’s oil demand ebbs and flows.  Right now it’s soft.  Reuters.

Animation on the basics of horizontal drilling and fracking:  Business Insider.

This afternoon’s coal post will have the natural gas commentary.  Tomorrow morning I leave for a much needed few days off.  Feel free to search Independent Stock Analysis using the search button in the upper right corner.  Signing up by email or FeedBurner are options too.

2 thoughts on “Expensive Oil

  1. Please enjoy your holiday, Mr Butler! Thank you again, for all of your labors and valuable information…

    • Thanks Hans. I almost used the word ‘holiday’ in honor of my non-American friends!

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