With the new oil price deck from last decade, the response from demand and supply has been astonishing.  The top chart show the anemic US petroleum products consumption.  The chart at the bottom show the supply result, and the bottom chart is on the cusp of doing a hockey stick turn up.  Yardeni

“OPEC oil output in May has hit its highest since 2008 as Saudi Arabia kept rates high despite a drop in prices and Iranian shipments did not fall much further ahead of an EU embargo, a Reuters survey found on Tuesday.”  Reuters

“The markets the company is accessing by rail are paying so much more for the oil that Crescent Point expects to pay off the loading facility in under a year.”  Globe and Mail

Chinese car buyers…Frank Talk

Don Coxe interview, and at his best.  Financial Sense