U.S. oil production growth has mostly come in the form of light, sweet crude, with API gravity of 35 or higher, and sulfur content of 0.3 percent or less. – The EIA estimates that 90 percent of the 3.1 million barrels per day of supply growth since 2010 has come from light sweet sources, such as in the Bakken, Permian, and Eagle Ford. – Medium-gravity (API between 27 and 35) come mostly from Alaska and the offshore Gulf of Mexico. – Light sweet crude will also dominate future growth, and its share of the pie will expand from 56 percent in 2017 to 70 percent by 2050. Market Movers • FirstEnergy (NYSE: FE) declared bankruptcy on some of its nuclear and coal power plants and has sought a bailout from the Department of Energy. But, despite expectations, […]