For those of us in the Houston area, one of the feel good stories of the week is that the Astros have clinched a play-off berth and are headed for the post-season. This is a team of successful, aggressive hitters that take advantage of whatever the pitcher sends their way. A little baseball mania in the fall is a great escape.
Speaking of getting away from it all – what is up with the price of oil (keyword, up)? There are several articles out this week in anticipation of the next OPEC meeting in which the members are expected to re-affirm production cuts to support the price of oil – Brent today is $56.19 and WTI is $50.77. These price increases over this week are counter-intuitive with the other news that Shale is back on line, Refineries were shut-in for Harvey, and Inventories are up. Could it be that ‘timing is everything’? Large inventories signal price softening, and perhaps the august members of OPEC will react by continuing cuts, even in the face of recent oil price surges, to reduce those inventories.
We see optimism in our fellow subsea brethren here at SET as we hear our phone ringing and see our inboxes filling with requests. SET is committed to solutions that increase productivity and lower operating costs for our customers no matter what the market price and no matter what the mood is for OPEC. While others are reading tea leaves, we are reading the stitches on the fast ball and are ready for the next pitch.