Oil Gains on U.S. Stockpile Drop, Stimulus Speculation at Bloomberg. Yet, “Sanctions against Iranian oil are taking hold just as the world is finding itself oversupplied” in Does the World Need Iran’s Oil? Apparently Not at Business Week.
Iraq quietly became OPEC’s number two oil producer as the country lacks basic services. Associated Press
But Don’t Count on Revolution in Oil Supply as the high prices are necessary to keep supply flush at the Oil Drum.
Barclays says $4/gal gasoline or $120/b oil might trigger SPR release at Platts.
This half hour Benteck Energy presentation is required for US energy and shale investors. It shows how real and large the shale boom is becoming. The ending natural gas commentary is not so good for coal bulls.
Peter Tertzakian has as solid a grasp on the oil markets as anyone. How rising well costs are reshaping the oil patch at the Globe and Mail. Sounds like the large and well capitalized companies have scale advantages.
The east coast and European media despise fracking. Don’t tell them 80,000 well in Ohio have been fracked since the 1950’s. (Ohio DNR)
Chart analysis Hess, a common go to name for stock traders looking for oil exposure: Dragonfly.