Title : Thursday, May 3, 2018
link : Thursday, May 3, 2018
Thursday, May 3, 2018
OSP:- Saudi Arabia needs more cash
- Saudi Arabia needs (at least) $88-oil
- "unexpectedly raises Arab light oil price to Asia" -- reported by oilprice.com in early April,
- now, this, Platts -- Saudi Aramco raises all June Asis-bound crude oil OSPs by about a buck
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Back to the BakkenWhere Fracking Is Always In Fashion
Active rigs:| $67.90→ | 5/3/2018 | 05/03/2017 | 05/03/2016 | 05/03/2015 | 05/03/2014 |
|---|---|---|---|---|---|
| Active Rigs | 60 | 50 | 27 | 86 | 185 |
RBN Energy: the US gas market braces for a storage surge.
The U.S. gas market in April — the first month of the official storage injection season — was anything but typical. Production was at record highs, nearly 8.0 Bcf/d higher than last year.
At the same time, weather in April was exceptionally cold, which meant storage activity remained in withdrawal mode on a net U.S. basis through the first three weeks of the month — a first for the April gas market going back at least eight years. That anomaly, in turn, led to an expanding deficit in storage compared to previous years, deferring the inevitable — shoulder season weather and supply surpluses — for another month.
But now, in May, with the cold-weather effects on gas demand fading and record production levels here to stay, the market is bracing for a storage tsunami. The question is, will it be enough to erase the massive inventory deficit compared to recent years? Today, we update our analysis of the gas market balance and implications for the 2018 injection season.
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