U.S. oil production is expected to rise by another 125,000 bpd in May, compared to a month earlier. – The gains will, unsurprisingly, come from the Permian basin, which is expected to add 73,000 bpd. – Interestingly, the number of drilled but uncompleted wells (DUCs) continues to rise, an indication that supply chain bottlenecks are causing some delays. Market Movers • Schlumberger (NYSE: SLB) is seeking compensation from ION Geophysical Corp for patent infringement in a case that was heard before the Supreme Court on Monday. If Schlumberger prevails, it will expand the ability of patent owners to recover damages that occur outside the U.S. Reuters reported that the justices seemed divided on the issue. • Enterprise Products Partners (NYSE: EPD) announced the full service of its Midland-to-Sealy pipeline, with expected capacity of 540,000 bpd. EPD […]