some POO musings oil production in the usa was actually up a bit this week , only about 10k but still up
https://www.eia.gov/dnav/pet/PET_SUM_SNDW_DCUS_NUS_W.htm here we are in the middle of peak driving season yet inventories are still building, not good
https://www.eia.gov/dnav/pet/PET_STOC_WSTK_DCU_NUS_W.htm IMHO it's looking more and more like the timing of stella start up could be in a very brutal oil price environment, soooo with miniscule hedging, and none on stella, things may not be nearly as rosy as people expect on here, even with a smooth start up it sure looks like a decent turnaround in poo is afair bit longer off than expected. not a great scenario if stellas first year of production is at a low poo, it will be a waste, paying off debt will be difficult. not saying this will happen but the chance is there and the odds are increasing that this could be the situation.
at this point today at least oil is rebounding a bit, still down, but rebounding.
cheers ferret