#OPEC+ V8 crude production rose by 308kbpd m/m to 31.701mbpd in July, vs the production quota increase of 411kbpd m/m to 31.785mbpd based on OPEC's secondary sources #oott

EIA Short Term Energy Outlook (STEO) Spectacular increase in Frac Crews productivity ➡️Even though Frac Crews have dropped ↘️➡️ Wells completed per month are at a very high level ➡️ This is the cause behind US oil🛢️Production not declining

Flat WTI🛢futures curve arcenergyinstitute.com/section/arc-en…

This is, without exaggerating, one of the most extraordinary things a US Treasury Secretary ever said. It should be mandatory viewing for all citizens of US "allies", Europeans first and foremost. What Bessent is saying is that the US will now treat US allies' wealth as an

Tourism boom in South Europe continues. Seems people will cut back on many things but not holidays. International tourist arrivals in Jan-Jun, y/y: 🇨🇾 +11.5% 🇪🇸 +4.7% (can hit 100mln this year) 🇭🇷 +3.3% 🇵🇹 +2.6% 🇬🇷 +2.1% (up to May) 🇮🇹 +0.2% And 2024 was a record year...

Everyone is fixated on IEA’s asininely bad supply and demand chart. But what should get a lot more coverage is this non-OPEC supply growth chart below. The end is in sight.

UAE just doesn't give a fk. Already reached the September quota in July.

Good luck getting non-OPEC supply to grow after 2026. Seriously. In the meantime, you need to survive and take advantage of what’s to come. It’s not a straight line going forward. SURVIVE!

A highly active Northern Route. It is the cheapest route to ship Russian oil and LNG to China during summer months when ice is thin. Map from Kpler

North-South tourism is at the heart of the largest redistribution of incomes within Europe with the proceeds recycled back to the North in exchange for manufactured goods. The major exception is Italy. With its large industry and depressed domestic demand, it is more "Northern".

It's not just OPEC...Brazil and Guyana both have large projects coming onstream imminently. Guyana to add ~290,000Bbl/d beginning next month and Brazil (400,000Bbl/d of new capacity) later this year. Cause for pause short-term, yet "we remain bullish" on oil over the medium term.