U.S. OIL GAS PRODUCTION WILL UP
EIA, OGJ - Crude oil production from the seven major US onshore producing regions is forecast to rise 122,000 b/d month-over-month in June to average 5.401 million b/d. All but 15,000 b/d of the increase is expected to come from the Permian and Eagle Ford.
Gas production from the seven regions is forecast to gain 557 MMcfd month-over-month in June to 51.316 bcfd. All seven regions are expected to show increases, with the Permian up 160 MMcfd to 8.56 bcfd, Haynesville up 130 MMcfd to 6.455 bcfd, Eagle Ford up 112 MMcfd to 6.136 bcfd, Niobrara up 61 MMcfd to 4.678 bcfd, Utica up 49 MMcfd to 4.431 bcfd, Marcellus up 22 MMcfd to 19.258 bcfd, and Bakken up 14 MMcfd to 1.798 bcfd.
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BLOOMBERG - While Europe as a whole gets more than a third of its gas from Russia, that share is lower in the U.K., which receives the bulk of its fuel from North Sea fields and Norway. Still, Moscow-based Gazprom PJSC was the second-biggest supplier to major industrial consumers in the U.K. last year, according to Britain’s energy regulator Ofgem.
FT - of the six LNG tankers that have made deliveries into the UK so far in 2018 three have carried cargoes originally from Russia, leading to questions about whether Moscow was gaining a foothold in the UK gas market after starting up the Yamal LNG facility in Siberia late last year.
REUTERS - So far this year, two Yamal cargoes unloaded at British terminals for domestic consumption, accounting for about a third of Britain’s 2018 LNG imports after typical supplier Qatar pre-sold the bulk of its winter output to Asia last year.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement. Brent crude futures LCOc1 were at $64.62 per barrel, down just 2 cents from their last close.