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NRGD - Shale Oil Production Growth Disappointment Is A Real Risk In H2 2019
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN
Note: This report was first published to HFI Research subscribers on June 30th, 2019. For more exclusive reports like this, see here for more info.
In a discussion this week we had with Open Square Capital's Nelson Wu, we pointed out that our scenario for ~380 mbbls by year-end for US crude storage uses the assumption that US oil production is currently at ~12.7 mb/d and growing to ~13.3 mb/d.
Nelson rightfully pointed out that it makes sense to "pad" the estimate because of how wrong we have been on US shale, but