228 - OPEC cuts | China drills second deepest well

Energy Week

Commodities Slide as Investors Bet on Economic Slowdown

https://www.wsj.com/articles/commodities-slide-as-investors-bet-on-economic-slowdown-233a6d3

- if prices trend down to the $60s or $50s by October then Shale producers might curb production plans

Saudi Arabia Springs 1 Million b/d Cut in Opec Megadeal

https://www.energyintel.com/00000188-857f-d6e7-a9ba-efffca560000

- will Aramco take oil from storage if customers want more oil than they have available from production?

Saudi Arabia Cuts Oil Output After OPEC Members Clash Over Quotas

https://www.wsj.com/articles/saudi-arabia-some-opec-members-clash-over-oil-production-quotas-87f43f0c

- Angola vs. Saudi Arabia over a reduction in baseline quotas

- 2024 new baseline quotas that more accurately reflect capacity

What oil production cuts were agreed at OPEC+ meeting?

https://www.reuters.com/business/energy/how-opec-deal-cuts-oil-supply-until-end-2024-2023-06-05/#:~:text=The%20OPEC%2B%20alliance%20on%20Sunday,a%20combined%2040.46%20million%20bpd

- Does OPEC know something about China's demand that the rest of the market doesn't?

China is drilling a 10,000-meter-deep hole into the Earth

https://www.mining.com/web/china-is-drilling-a-10000-meter-deep-hole-into-the-earth/

- "The project will provide data on the Earth’s internal structure, while also testing deep underground drilling technologies, according to China National Petroleum Corp., which is spearheading the project."

- Is this REALLY just a scientific and technical venture? Or is it cover for something military?

- How much oil and gas would they have to get out of 457 days of drilling?

- could it be for rare earths like lithium?

An Inflexible EPA Rule Will Hamper Goals to Reduce Methane Emissions

https://themessenger.com/opinion/an-inflexible-epa-rule-will-hamper-goals-to-reduce-methane-emissions

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