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Title : The Political Page With A Bit Of Energy News, T+278 -- October 26, 2017
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The Political Page With A Bit Of Energy News, T+278 -- October 26, 2017

Vision 2030: looking a lot less clear. From the beginning, I've had my doubts about Prince Salman's "Vision 2030." See "The Salman Plan" linked at the sidebar at the right, under the "On-Going Section." Financial Times writes about current status of Prince Salman's plan. If behind a paywall, google u-turn to revive quotas is not working and fails to address changing future of oil ft. Data points:

• Saudi Arabia has moved into recession
• unemployment continues to rise
• the war in Yemen and the dispute with Qatar appear in stalemate
• vexed issue of King Salman's ill health; the question of who succeeds him (I thought that was settled; oh-oh)
• the article recounts Prince Salman's "trillion dollar mistake"
• but note this: in December, 2014, the number of drilling rigs had peaked at 353; by May, 2016, the figure had collapsed to just 116; now, the rig count has trebled and is close to a new peak, at 336
• even worse: oil production per Permian rig has continued to rise from December, 2014's, level of 219 b/d; volume has nearly trebled to 572 b/d while the number of DUCs has almost doubled from 1,204 to 2,330
• Saudi Arabia has taken most of the OPEC's total cuts
• Saudi Arabia forcast "re-balancing" would by achieved by March, 2018; now it might take until December, 2018, and require even further cuts
• much, much more at the link; too bad the writer did not show the monthly drop in Saudi's foreign reserves

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Speaking of Challenges

NFL-free Thursdays? Networks want to cancel "Thursday Night Football." No link. Story everywhere, easily found. First reports from Breitbart and CBS.

http://ift.tt/2dZyQXu

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