Oklahoma

US Rig Count Rise Continues As Crude Production Hits 20-Month Highs

From the May 2016 lows, the number of US oil rig counts have only declined 3 times and this week was no exception. Up for its 15th week in a row (+9 to 697), its highest level since April 2015, the rig count continues to pull US crude production higher, stymying OPEC efforts at balance, leaving the bullish case for oil fading fast.

Cherokee Nation Files Lawsuit Against Big Pharma Over Opioid Epidemic

Late last week, lawyers representing the Cherokee Nation filed a lawsuit against major pharmaceutical companies, claiming they have pumped dangerous painkillers into Native American communities in Oklahoma. The Washington Post obtained a copy of the court filing and reported that the companies are accused of breaking laws by failing to prevent the diversion of pain pills to the black market.”

10 Selfless Acts Amid Terrible Tragedies That Will Restore Your Faith In Humanity

"...yes, we’re an incredibly violent and cruel species that is capable of mind-boggling horrors when we’re trying to survive. Hell, some of the things we do when we aren’t desperate are still nightmare inducing. But what most people forget is that in our darkest moments, we’re capable of immeasurable acts of compassion and altruism."

No Obamacare In Most Of Iowa, Tennessee - What Happens? Fallback Plans?

Trump could call up providers and bully them into offering coverage. But does that make any sense from a party that wants to Kill Obamacare? The system is set up to implode and there is no point to doing anything until it does. After an implosion, there will be bipartisan support to do something. Right now there is no bipartisan support to do anything.

WTI/RBOB Slide As Crude Production Hits 20-Month High, Cushing Glut Hits Record High

WTI/RBOB prices slipped ahead of DOE data as Canada's growth outlook cut trumped Saudi Arabia's wishy-washy chatter on production cuts. DOE data confirmed the biggest crude draw of 2017 (-2.16mm) and gasopline and distilates saw the 8th week in a row of drawdowns but Cushing's 276k build pushed it to a new record high as US crude production rose once again to its highest sine August 2015.

4 Factors Driving Oil Prices This Summer

Uncertainty is dominating today’s oil markets, with production cuts, ballooning inventories and a rising rig count all adding to oil price volatility. And as the summer driving season approaches and oil companies return to their projects here are four key factors to watch closely.

Key Events In The Coming Week

The key economic releases this week are the consumer confidence report on Tuesday, the third estimate of Q4 GDP on Thursday, and the PCE report as well as Personal Income & Spending data on Friday. In addition, there are several scheduled speaking engagements by Fed officials this week.

These US States Entered A Recession In 2016

Kansas, New Mexico, Oklahoma and Wyoming experienced recessions last year, while others saw milder contractions, including Maine, Montana, North Dakota, Louisiana and West Virginia.

Frontrunning: March 17

  • Oil Set for First Weekly Gain This Month (BBG)
  • Trump’s Budget Likely to See Major Rewrite in Congress (WSJ)
  • Trump, Germany's Merkel to hold first face-to-face meeting at White House (Reuters)
  • Tillerson Doesn’t Rule Out Preemptive Strike on North Korea (BBG)
  • Trump May Not Want Immigrants, but Rust Belt Mayors Do (BBG)

3 Things: Fed Hike, Fed Late, Fed Miss

“The simple message is the economy is doing well. We have confidence in the robustness of the economy and its resilience to shocks.” – Janet Yellen, March 15, 2017.

Really?