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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (31854)	7/18/2017 2:23:46 PM
From: Goose94	Read Replies (1) of 203540

Crude Oil: Ecuador pulls out of OPEC deal. Ecuador said that it could no longer adhere to the OPEC cuts because it has financial pressure and needs to export more. The government said that it would gradually raise output. Ecuador is a small producer and was already not complying fully with its promised cuts so the additional barrels that the South American nation will put onto the market won’t be a game-changer. But the real concern is that overall compliance within the cartel starts to slip. EIA: Shale to grow by 113,000 bpd in August. The EIA’s new Drilling Productivity Report estimates the U.S. shale industry will continue to expand output, growing by 113,000 bpd next month. That gains will be led by the Permian (+64,000 bpd), the Eagle Ford (+27,000 bpd), the Niobrara (+15,000 bpd), plus smaller contributions from elsewhere. The estimate throws cold water on the notion that the shale industry is slowing down following the dip of oil prices into the $40s per barrel.

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