---
title: "High on Oil"
url: https://independentstockanalysis.com/high-on-oil/
description: "Oil Advances From One-Week Low on Chinese Manufacturing Outlook at Bloomberg . Oil-Price Surge Is All About Iran from the WSJ . Blackrock: US Shale Boom…"
published: 2012-07-24
updated: 2012-07-24
---

# High on Oil

Published 2012-07-24

Posted on

by

J.J. Butler

Oil Advances From One-Week Low on Chinese Manufacturing Outlook at [Bloomberg](http://www.bloomberg.com/news/2012-07-24/oil-advances-from-one-week-low-on-chinese-manufacturing-outlook.html). Oil-Price Surge Is All About Iran from the [WSJ](http://online.wsj.com/article/SB10000872396390444097904577539450900817734.html?mod=rss_markets_main).

Blackrock: US Shale Boom: A Case of (Temporary) Indigestion at [Scribd](http://www.scribd.com/doc/100813620/US-Shale-Boom-A-Case-of-Temporary-Indigestion-US-Version-June-2012).

Eagle Ford crude pricing: RBN Energy. Natural gas liquids hit dry patch as prices sink at [Fuel Fix](http://fuelfix.com/blog/2012/07/23/natural-gas-liquids-hit-dry-patch-as-prices-sink/).

Emerging market demand is higher; developed world demand shrinks. “US oil demand in June declined by 3% from a year earlier, according to the latest monthly statistical report from the American Petroleum Institute. During this year’s first 6 months, demand fell by 2.6%.” [Oil and Gas Journal](http://www.ogj.com/articles/2012/07/api-us-oil-demand-fell-in-june-first-half.html)

The last nine months has seen a steady rig count, with the gas rig count dropping while the oil rig count has risen. [Oil and Gas Journal](http://www.ogj.com/articles/2012/07/flattened-drilling-seen-challenging-us-upstream-thinking.html)

“If you thought 2008 was a heyday for deepwater drilling, you ain’t seen nothin’ yet.” [Platts](http://www.platts.com/weblog/oilblog/2012/07/20/_body_margin_0.html)

Slowly but surely the anti-fracking fear mongering zealots are being put to bed by reputable mainstream publications. [Newsday](http://newyork.newsday.com/news/nation/fracking-critics-using-bad-science-experts-say-1.3853291) Russia’s Gazprom continues to talk their interests regarding the shale gas boom at [Platts](http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/8545823).

Is Saudi Arabia succumbing to the resource curse? [Financial Post](http://business.financialpost.com/2012/07/05/is-saudi-arabia-succumbing-to-the-resource-curse/) Iraq’s Oil Exports To Fall For A 3rd Month In July at [MEES](http://www.mees.com/en/articles/5460-iraq-s-oil-exports-to-fal-for-a-3rd-month-in-july).