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• Is Saudi Arabia Exaggerating Its Oil Production Potential?
  For many years now, Saudi Arabia has been wildly exaggerating every metric connected to its oil business,...
  For many years now, Saudi Arabia has been wildly exaggerating every metric connected to its oil business, from how much crude it can produce to its level of reserves and everything in between, as analyzed in depth in my first book on the oil sector in 2015 and the latest one in 2021. Why does it lie so much and so often about these figures? Because without the power it has in the world directly associated with its crude oil production, spare capacity, and reserves it has no real power at all, so enormously exaggerating each of these figures is geared towards puffing itself up in terms of its geopolitical importance.
  
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• Why These 3 Oil Dividend Stocks Tumbled More Than 15% in June
  Oil prices cooled off a little bit in June. West Texas Intermediate (WTI), the primary U.S. oil price...
  Oil prices cooled off a little bit in June. West Texas Intermediate (WTI), the primary U.S. oil price benchmark, fell 7.8% last month, closing at $105.76 per barrel. Last month's sell-off in the oil market weighed on most oil stocks.
  
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• Norwegian Oil and Gas Workers Start Strike, Cutting Output
  Norwegian offshore workers began a strike on July 5 that will reduce oil and gas output, the...
  Norwegian offshore workers began a strike on July 5 that will reduce oil and gas output, the union leading the industrial action told Reuters.
  
  The strike, in which workers are demanding wage hikes to compensate for rising inflation, comes amid high oil and gas prices, with supplies of natural gas to Europe especially tight after Russian export cutbacks.
  
  “The strike has begun,” Audun Ingvartsen, the leader of the Lederne trade union said in an interview.
  
  Operator Equinor ASA has initiated a shutdown of three fields in the North Sea as a result of a strike, the company said on July 5.
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• What's Brewing Tuesday Morning
  Another one: Vauld, a crypto lender backed by Coinbase and Peter Thiel, paused withdrawals, trading, and deposits in order to survive Crypto Winter.
  
  Three people were killed in a shooting at a shopping mall in Denmark. Authorities said the gunman’s motives were not terror-related.
  
  Turkey’s annual inflation rate surged to 79%, the highest level in 24 years.
  
  GoFundMe donations have topped $300,000 for a Burger King worker who, after never missing a day of work for 27 years, was given a drawstring backpack, a movie ticket, and a few other knicknacks as a thank-you present by management.
  
  
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• Chesapeake leaders acquire more company shares
  Just a few days after Chesapeake Energy doubled its share buyback offer from $1 billion...
  Just a few days after Chesapeake Energy doubled its share buyback offer from $1 billion to $2 billion, some executives in the company acquired more shares in the Oklahoma City company.
  
  The expanded buyback program was announced on June 22 and reports filed with the U.S. Securities and Exchange Commission show at least three company executives launched their own acquisitions of company shares buying nearly $1 million in stock.
  
  Read the full article on OK Energy Today
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