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Some oil news ICYMI – US shale producers to boost oil output by 500,000 bpd by month-end

  
Analysis, Crude
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Reuters report on what analysts & some in the industry are expecting

  • Larger producers are re-opening the taps in low-cost plays in Texas, but also in expensive shale basins in North Dakota and Oklahoma.
  • “With prices where they are now, if they stay above $30, I wouldn’t expect any significant curtailments from us in Q3 or beyond,” Devon Energy Corp Chief Executive David Hager said at a J.P. Morgan energy conference on Tuesday.
This would be a rapid (albeit partial) bounce back from prior supply cuts in shale. It’ll add pressure back onto OPEC+ who recently agreed to extend their their output cuts. Supply coming back on line as prices rise … pretty textbook economics this.
Here’s the link to Reuters for more
Reuters report on what analysts & some in the industry are expecting

A US – UK trade deal is unlikely before the US presidential election in November

  
  Analysis

Greg posted the news earlier on the outlook for the free trade negotiations between the US and UK

Check out Gregs post for more info, and also this recap:
  • America’s top trade negotiator Robert Lighthizer’s says a deal with the UK is unlikely before the US presidential election in November.
  • “There are very, very fundamental issues that we have to come to grips with”
  • “I don’t want anyone to think this is going to be a rollover.”
Report with more via BBC, link here
Greg posted the news earlier on the outlook for the free trade negotiations between the US and UK
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