Addax Petroleum (fka AXC)

[Julius Erving]

Oil prices outlook:

http://www.reuters.com/article/us-commodities-summit-vitol/u-s-oil-output-may-be-set-for-last-spike-in-2018-vitol-idUSKBN1CF1MZ?rpc=401&;

http://oilprice.com/Energy/Oil-Prices/Worlds-No1-Oil-Trader-US-To-See-Final-Oil-Output-Spike-In-2018.html

"The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol."

Vitol is anticipating an increase in US crude production of 0.5 to 0.6 million bpd in 2018, at which point the increase in production would cause cost inflation, rendering at least some of today’s current production projects unprofitable. And according to Vitol, some are barely profitable as it is.

“If you look at the economics on most of the big Permian players, not many of them make a lot of money,” Taylor said, speaking to Reuters.