Paul Young is a CPA and expert in various energy market and business fields. The document discusses recent developments in global energy markets, including: - Rising US and Texas oil production which is frustrating OPEC's efforts to curb global supply through production cuts. - Geopolitical issues between Qatar and Saudi Arabia/Egypt that have isolated Qatar, rooted in a gas dispute since 1995 when Qatar began exporting LNG from the world's largest gas field it shares with Iran. - An overview of oil rig counts, prices and production levels from sources like the EIA and OPEC for markets in North America, the Middle East and globally.

1. Energy Market – World –
May 2017
PAUL YOUNG CPA, CGA
JUNE 7, 2017

2. Paul Young - Bio
• CPA, CGA (1996)
• Financial Solutions (FOPM/FPM)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Financial Solutions
• SME – Advance Technology and Market
Entry
• SME – Supply Chain Management
• SME – Business Strategy and
Restructuring
Contact information:
Paul_Young_CGA@Hotmail.com

3. Oil Rig Count and Oil Prices
Source – BMO Economics and BakerHughes

4. Oil Rig Count and Oil Prices
Source – BMO Economics and BakerHughes

5. Geopolitical Issues - Qatar
Source - http://www.bbc.com/news/world-middle-east-40182599
Saudi Arabia's foreign minister called on Qatar to cut ties
with Palestinian group Hamas in the occupied territories,
and the Muslim Brotherhood in Egypt, if it wanted to end
its isolation in the Gulf region.
BBC – June 6, 2017

6. USA /Texas Oil Production vs OPEC Oil
Production
• http://www.worldoil.com/news/2017/6/6/texas-oil-and-gas-expansion-frustrates-opec-production-cuts
Upstream oil and gas development in Texas rallied for the fifth straight month in April, according to the Texas
Petro Index, which improved to 164.8 to post its first year-over-year increase in 27 months.
Among TPI indicators logging big year-over-year gains in April were wellhead prices for crude oil and natural gas,
the number of drilling rigs at work, well-permitting activity, and the value of Texas-produced oil and gas.
Joining those positive signs was total upstream oil and gas employment-which registered the first year-over-year
increase since February 2015-and the volume of oil produced in Texas, which was up more than 2% compared to
April 2016.
"Texas producers are responding to higher wellhead prices that have resulted from coordinated efforts by OPEC,
Russia, and others to curtail oil production," said Karr Ingham, the economist who created the TPI and updates it
monthly. "But in large part, production growth in Texas and the U.S. is keeping a lid on crude oil prices, which
continues to frustrate parties to that agreement."
World Oil – June 6, 2017

7. Canada Oil Production

8. Qatar and Saudi Arabia
Source - http://www.worldoil.com/news/2017/6/6/saudi-dispute-with-qatar-has-22-year-history-rooted-in-gas
Saudi Arabia’s isolation of Qatar has been brewing since 1995, and the dispute’s long past and likely lingering
future are best explained by natural gas. Not only was that the year when the father of the current emir, Sheikh
Tamim bin Hamad Al Thani, toppled his own pro-Saudi father, it was also when the tiny desert peninsula was
about to make its first shipment of liquid natural gas from the world’s largest reservoir. The offshore North
Field, which provides virtually all of Qatar’s gas, is shared with Iran, Saudi Arabia’s hated rival.
The wealth that followed turned Qatar into not just the world’s richest nation, with an annual per-capita
income of $130,000, but also the world’s largest LNG exporter. The focus on gas set it apart from its oil
producing neighbors in the Gulf Cooperation Council and allowed it to break from domination by Saudi Arabia,
which in Monday’s statement of complaint described Qataris as an “extension of their brethren in the
Kingdom” as it cut off diplomatic relations and closed the border.
Instead, Qatar built its own ties with other powers including Iran, the U.S. -- Qatar hosts U.S. Central
Command -- and more recently, Russia. Qatar’s sovereign wealth fund agreed last year to invest $2.7 billion in
Russia’s state-run Rosneft Oil.

9. World Oil Production
• http://peakoilbarrel.com/world-crude-plus-condensate-and-conventional-oil/