Crude oil fundamentals are very tight and risk getting considerably tighter. Investors continue to starve energy companies of much-needed capital, the lifeblood of a solid supply base. Although the trend of lower spending has been in place for several years, our models tell us we are nearing a critical inflection point: the growth in shale oil production -- the only source of non-OPEC+ production growth over the past two decades --- may be coming to an end.
Read more: https://blog.gorozen.com/blog/the-end-of-abundant-energy
By now should all have watched my July 8th podcast. Marshall Atkins and his Energy Sector Research Team at Raymond James & Associates are forecasting that global oil demand will exceed supply by 2.6 million barrels per day in Q3 and by 2.9 million barrels per day in Q4. Several other "Big Dogs" in the Wall Street Gang agree.
The Permian Basin is the only large basin in the U.S. with production growth potential and it cannot offset the production declines in the Williston Basin and South Texas Eagle Ford. Within a few years the Permian Basin will reach Peak Production.
You all need to read this ASAP - July 10
You all need to read this ASAP - July 10
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group