U.S. OIL WILL DOWN 80,000 B/D
Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration's latest Drilling Productivity Report.
The Report focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US oil production increases and all US natural gas production increases during 2011-13.
The Eagle Ford has represented a bulk of the overall declines since output from the plays began trending downward during the spring. EIA projects October production from the South Texas play to decline 62,000 b/d to 1.42 million b/d. The Bakken is expected to fall 21,000 b/d to 1.18 million b/d, while the Niobrara is expected to fall 19,000 b/d to 380,000 b/d.
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IEA - For the third consecutive year, global energy investment declined, to USD 1.8 trillion (United States dollars) in 2017 – a fall of 2% in real terms. The power generation sector accounted for most of this decline, due to fewer additions of coal, hydro and nuclear power capacity, which more than offset increased investment in solar photovoltaics.
EIA - Crude oil production from the major US onshore regions is forecast to increase 143,000 b/d month-over-month in July from 7,327 to 7,470 thousand barrels/day , gas production to increase 1,066 million cubic feet/day from 69,466 to 70,532 million cubic feet/day .
U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.
U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.