---
title: "Energy"
url: https://independentstockanalysis.com/energy-3/
description: "A summery of OPEC’s monthly May report, including: “Non-OPEC global supply is expected to grow by 600,000 barrels/day this year, primarily due to…"
published: 2012-05-10
updated: 2012-05-10
---

# Energy

Published 2012-05-10

Posted on

by

J.J. Butler

A summery of OPEC’s monthly May report, including: “Non-OPEC global supply is expected to grow by 600,000 barrels/day this year, primarily due to increased production in the US.” Also, “The report also noted that the oil market has moved back into contango, a market state in which futures prices are higher than the current spot price.” [Pragmatic Capitalism](http://247wallst.com/2012/05/10/opec-market-forecast-sees-global-crude-demand-of-89-million-barrelsday/)

Broader highlights from EOG’s conference call, including this on the Bakken: “”The Bakken/Three Forks is our upside surprise to the quarter, and we’re considerably more optimistic about **the next 10 years of this play**than we were a year ago.”…”Some of our technical people that are optimistic about the waterflood have a theory that the reason we’ve doubled the production in the older wells is that we’ve in fact done a mini waterflood with the frac. So that’s one theory anyway.” — this is one of the most interesting things to come out of this conference call.”” From [Million Dollar Way](http://milliondollarway.blogspot.com/2012/05/highlights-of-eog-1q11-conference-call.html)

Price Waterhouse Coopers on the economic benefits of shale gas titled, *Shale Gas: A renaissance in US manufacturing?* [PWC](http://www.pwc.com/en_US/us/industrial-products/assets/shale-gas.pdf)

Eagle Ford economic impact: [CCBR](http://ccbr.iedtexas.org/index.php/Latest/new-report-the-impact-of-eagle-ford-shale.html) via [Mark Perry](http://mjperry.blogspot.com/2012/05/life-on-eagle-ford-shale-47000-shale.html#links)

Shale gas in China. [Reuters](http://uk.reuters.com/article/2012/04/26/uk-shell-chinashale-idUKBRE83P0MS20120426)