Oil Speculation

Busy day in the oil markets:  Inventory, G7 and IEA head statements and oh yea, hurricane Isaac.

Oil Declines From One-Week High on Isaac Landfall, G-7 Statement at Bloomberg.

“The oil and natural gas markets have become less vulnerable to hurricanes as a boom in onshore shale production redraws the North American energy map.”  Globe and Mail

IEA: Iran outage, high price don’t justify oil release at Reuters.

The Eagle Ford may have the best returns, but the Bakken is the largest US shale oil play (Million Dollar Way).  DEALTALK-Cheap Bakken shale oil cos ripe for acquisition at Reuters.  Think efficiency gains and pad drilling: ND drill rig activity lowest in a year at Prairie Business.

I don’t believe in magic wands, but OECD demand destruction is underestimated:  Daily Finance.  China’s share of world oil consumption by History Squared.

An interesting theory on oil and oil stocks:  Daily Wealth.