LATEST FALL IN OIL PRICES from ISIS failing to slow Iraq oil exports, reports that Libya production to resume soon, ample supplies in US. (Don't count on Libya or Iraq or ample supplies in US without imports. Duh. Up and down. Oil prices probably to go back up.) ... June 260Kb/d decline in Iraq oil exports offset by increased production from Sauds, Iran, Nigeria ... IEA feels rapid growth in US shale oil production to continue at least 18 more months. (Um, you might want to keep that timeframe in mind. Hit the dirt in '16.) ... Reuters reported successful new oil field development dropped to lowest in 15 yrs. Enhanced oil recovery tech from mature fields only partial solution. World using 33B bls/yr, finding 10-20B at most. Largest '13 find 1B bls ... US NG production up to 68.1 BCF/d, highest on record. Up 5.4% on year ... Iraq forces (et al) have been unable to recapture any territory from ISIS. ISIS continuing to take small towns around Baghdad ... Kurds worried Baghdad will bomb them with Russian jets. They increased oil production to 360Kb/d last month. Can export 130Kb/d by truck, pipe ... Iran June oil exports down to 1.08Mb/d. Lowest since Oct. China cut imports last 2 months 36%. July 20 deadline on nuke talk. Likely extension. Iran has seriously growing water shortage ... Russia oil production starting slow drop. Expects 6.3% drop in oil revs by '16 from '14 ... Shale could eventually meet ~10% of Euro energy demand ... Negative refining margins in Singapore ... Chevron confirmed what oil comps denied for decades. Shale development in west US would use 5 bls of water per bl of oil ... Shell bowing out of Saud NG project in "Empty Quarter". Eni, Repsol bowed out of similar projects ... Turkey in talk with Exxon to explore shale gas potential. Est. 162 TCF ... Iran expecting Russia investment in NG pipelines ... Egypt-Israel NG deal possible over price ... Exxon facing 1st criminal charges over frackwater leak in Marcellus ... Chesapeake Energy facing criminal charge in Mich bid rigging with Encana. Onward and upward, pards. Happy trailer attachments and tiedowns.