Wednesday's luncheon at the Hess Club - July 31

[dan_s]

If you are going to attend our Houston luncheon on July 31st READ THIS CAREFULLY.

Forbes: A New U.S. Oil Production Peak Looks Imminent

"One of the most important questions in the global oil markets revolves around U.S. oil production. There is probably nothing OPEC would like to know more than when U.S. oil production will begin to decline. The resurgence of U.S. oil production over the past decade diminished OPEC's control of the global oil markets. In less than eight years, U.S. oil production climbed from under 6 million barrels per day (BPD) to more than 12 million BPD. This surge is arguably the only reason oil prices today aren't above $100/barrel (bbl). OPEC's current strategy seems to be to wait for U.S. production to begin declining so they can begin to regain control of the oil markets. They may not have to wait all that long." - Robert Rapier, an EPG member

Full article: https://www.forbes.com/sites/rrapier/20 ... 10cc7a5ad3