Energy issues ///

A recent U.S. Energy Information Administration report projects that Gulf of Mexico oil production will hit an all-time high of 1.91 MMbpd in December 2017. That’s 210,000 bopd higher than the previous record of 1.7 MMbopd set in 2009. This projection followed a Feb. 18 announcement that the Bureau of Ocean Energy Management will offer 45 million acres in two lease sales on March 23. I doubt BOEM will get a large response, but the possibility exists, and with it the chance of even more crude entering the market.

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