Pushing Higher, page-8

... also, BP who bought it believe they have some synergies that make it marginally economic. It being inland, they aren’t likely to destroy the ecology of an entire coastline next time they stuff up a well, so that’s a bonus for them. The reality is it highlights how uneconomic a proposition US shale really is, how inadequate their underinvested infrastructure has become to cope with any output increase if it ever becomes worth pumping and in any case, their workforce has long since packed up... US shale is just so irrelevant to the global oil market dynamic these days. Here’s what counts...

RBC: Oil Market Will Tighten Amid Significant Loss Of Iranian Crude

• On Monday, August 6, the first set of U.S. sanctions on Iran will snap back, so we will be probably looking at tougher actions over August and September, Helima Croft, RBC Capital Markets global head of commodity strategy said.

https://oilprice.com/Energy/Energy-...hten-Amid-Significant-Loss-Of-Iran-Crude.html

See you Monday