Oil Trades Near Four-Month Low on Greece Concern, U.S. Elections at Bloomberg.
Surging Oil Production In US And Iraq Weigh On Long-Term Oil Prices, Demand Is Key In Near Term at HAI.
Last decade a leg of the fundamental negative outlook stateside was the tenuous energy situation. Oh how the world changed (John Hanger).
Challenges for Canadian Oil Scene at WSJ.
“America will set new records for exporting coal, gasoline, and diesel this year, a turn of events that would have been recently unthinkable.” John Hanger
Exxon Mobil production “declined 7.5% from the same quarter in 2011 to 3.96 million barrels a day and fell short of the FactSet consensus estimate of just under 4.15 million. Excluding the effect of OPEC quotas, divestitures and other impacts, production would have fallen 2.9%.” AMP
“Exxon Mobil is no longer the world’s number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the title belongs to Rosneft, Russia’s state-controlled oil company.” From Putin Is the New Global Shah of Oil at Testosterone Pit.
“The Baker Hughes rig count dropped by 26 rigs this week to 1,800. Oil rigs were down 35 to 1,373 (lowest level since 5/11/12), gas rigs were up eight…” The minor roll over in the rig count does not mean total drilling has declined. Nay, as we’ve been hear on quarterly conference calls it is a function of ever increased efficiency via cycle times. Haynesville Play
Energy Stat: Gas-to-Coal Switching Will Be the Key to 2013 Natural Gas Prices by Raymond James.