After talking down the oil price, so much for the SPR release.  Reuters

“Production in the Eagle Ford could reach 1 million barrels a day by 2016…”  Fuel Fix

“A report published by…OPEC…(Iranian) oil production…fell by 12 percent in the first three months of this year and is expected to continue falling…Unwilling to slash production, which can permanently damage oil wells, the Iranian oil companies are storing all excess produce in its fleet of supertankers anchored near to the main oil terminals in the Persian Gulf.  Irans fleet consists of 39 supertankers with a storage capacity of 80 million barrels, roughly 25 days of production at current levels. They have already filled 40 percent of the capacity, and whilst China is due to deliver 12 brand new supertankers this month, if the capacity is filled completely they will be forced to shut down wells which could potentially prove to be disastrous.”  Oil Price

Raymond James Energy Stat of the Week; they do not expect significant LNG exports this decade.

The rig count as seen at Haynesville Play.

World Casts Envious Glance at U.S. Natural Gas Advantage  WSJ

In case you haven’t seen it:  Ray Dalio on de-leveraging this weekend at Barron’s.