---
title: "All Crude"
url: https://independentstockanalysis.com/all-crude/
description: "Oil Drops on Demand Concern Amid Signs Economy Slowing at Bloomberg . OPEC sees 2013 oil demand growth slowing at the Globe and Mail . Additionally, “The…"
published: 2012-07-12
updated: 2012-07-12
---

# All Crude

Published 2012-07-12

Posted on

by

J.J. Butler

Oil Drops on Demand Concern Amid Signs Economy Slowing at [Bloomberg](http://www.bloomberg.com/news/2012-07-11/oil-gains-a-second-day-as-stockpiles-decline-more-than-forecast.html).

OPEC sees 2013 oil demand growth slowing at the [Globe and Mail](http://www.theglobeandmail.com/report-on-business/international-business/european-business/opec-sees-2013-oil-demand-growth-slowing/article4405265/). Additionally, “The Saudis are pumping considerably more on an absolute and on a relative basis.” and “Iraq’s crude output is now catching up with Iran’s.” [Sober Look](http://soberlook.com/2012/07/latest-data-from-opec-iraqs-output.html). “Tough Western sanctions are forcing Iran to take drastic action and shut off wells at its vast oilfields.” [Financial Post](http://business.financialpost.com/2012/07/10/iran-shutting-off-oil-wells-as-sanctions-bite/)

“Since 2005, the “total oil supply” for the United States…increased by 2.2 million barrels per day. Of this, 1.3 mb/d, or 60%, has come from natural gas liquids and biofuels…” [Econbrowser](http://www.econbrowser.com/archives/2012/07/shale_oil_and_t.html)

The Bakken boom continues with May North Dakota production higher by 4.9% over April and 75.5% over weather hurt May of 2011. [Mark Perry](http://mjperry.blogspot.com/2012/07/americas-new-no-2-oil-state-north.html#links)

Brent vs WTI: [EIA](http://205.254.135.7/oog/info/twip/twip.asp). When will the discount end? [RBN Energy](http://www.rbnenergy.com/a-bridge-too-far-when-will-the-wti-discount-to-brent-end).

The S&P 500 is at an important technical juncture: [See It Market](http://www.seeitmarket.com/chartology-sp-500-technical-update-watch-that-uptrend/).