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U.S. crude oil exports out of the Gulf Coast soared to 4.1 MMb/d last week.

WTI crude prices crater amid weakened demand and OPEC+ supply hike.

Crude oil flows from the Permian Basin to Corpus Christi increased in May 2024, rising by 52 Mb/d to 2.4 MMb/d, compared to April’s 2.35 MMb/d, according to data from the Texas Railroad Commission.

Lately, we have noticed a lot of mention of 2022 well results along with a narrative that production per lateral foot was down versus the prior year. So, is the end nigh or might there be other explanations to mitigate the declines quoted in the press?