Title : A Great Day For Oil Bulls -- September 12, 2018
link : A Great Day For Oil Bulls -- September 12, 2018
A Great Day For Oil Bulls -- September 12, 2018
Huge day today:- oil already moving
- weekly petroleum report -- critical for clarity for EIA to corroborate API data released yesterday
- iPhone rollout today
******************************************
Back to the Bakken
No wells come off the confidential list today.
WTI: it's going to be a huge day for "oil bulls." WTI is up 1.5% in pre-market trading; up over a dollar/bbl; and, trading solidly above $70.
Disclaimer: this is not an investment site.
Disclaimer: I am inappropriately exuberant about the Bakken.
Active rigs:
| $70.27↑↑ | 9/12/2018 | 09/12/2017 | 09/12/2016 | 09/12/2015 | 09/12/2014 |
|---|---|---|---|---|---|
| Active Rigs | 66 | 56 | 37 | 69 | 197 |
RBN Energy: court ruling on TMX extends need for Canadian CBR. Well, duh. And thank you Ms Why-own-a LaDuke ... making my portfolio great again.
The late-August decision by Canada’s Federal Court of Appeal to overturn the Canadian government’s approval of the Trans Mountain Expansion Project will delay the project’s completion to at least 2021 or 2022. And — who knows? — the unanimous ruling may ultimately lead to TMX’s undoing, despite the Canadian government’s acquisition of the existing Trans Mountain Pipeline and the expansion project and its commitment to get TMX built. As producers in the Western Canadian Sedimentary Basin (WCSB) know all too well, TMX’s 590 Mb/d of incremental pipeline capacity would help to resolve ever-worsening pipeline takeaway constraints out of the Alberta oil sands and other production areas in the WCSB. These constraints are having a major economic impact every day — as evidenced by price differentials wide enough to run a locomotive through. Speaking of trains, crude-by-rail exports out of Western Canada reached a record 205 Mb/d in June, an 86% increase from the same month last year, and with WCSB production rising as new oil sands capacity comes online and with only limited relief likely on the pipeline capacity front from the Enbridge Line 3 Replacement Project in late 2019, many producers will need to depend on rail shipments of crude well into the 2020s. Today, we discuss the recent court ruling and what it means for Western Canadian producers, price spreads and the future of crude-by-rail.
We didn’t expect to revisit the related issues of Western Canadian differentials and crude-by-rail so soon - we provided an update just a few weeks ago, in Revival. But the Federal Court of Appeal’s’ 3-0 ruling on August 30 was a major blow to the TMX project, which producers have been hoping would increase pipeline takeaway capacity out of the WCSB and allow them to significantly expand sales to markets in the Pacific Rim.
Thus Article A Great Day For Oil Bulls -- September 12, 2018
That's an article A Great Day For Oil Bulls -- September 12, 2018 This time, hopefully can give benefits to all of you. well, see you in posting other articles.
You are now reading the article A Great Day For Oil Bulls -- September 12, 2018 with the link address https://mylivemyidea.blogspot.com/2018/09/a-great-day-for-oil-bulls-september-12.html
0 Response to "A Great Day For Oil Bulls -- September 12, 2018"
Post a Comment