US Oil Producers Fail to Produce

[Seran]

You warming up your "This isn't Biden's fault" speach?

Why would I need to put effort into disproving your lack of facts?

[Methais]

Why would I need to put effort into disproving your lack of facts?

You don't put effort into anything. That's why you're on welfare and smell really bad.

[Seran]

API was wrong again, though not nearly as badly this time. The EIA report confirms a build of crude inventories of 10.2M barrels last week. Crossing fingers for a fall in oil prices that'd benefit world economies.

[~Rocktar~]

API was wrong again, though not nearly as badly this time. The EIA report confirms a build of crude inventories of 10.2M barrels last week. Crossing fingers for a fall in oil prices that'd benefit world economies.

Due to the conflict in the middle east, oil prices will not drop any time soon and likely will rise unless of course, the US and others start really dumping into the market. Welcome to the result of idiotic policies and reducing sanctions on Iran.

[Anebriated]

How is it bad for the US exactly? The only middle eastern government that has actively aided an attack on our country on two separate occasions Saudi Arabia. Some of us haven't gotten September 11th, evidently in your far right simping you have.

This aged poorly. Who would have been able to foresee that letting Iran use 6b towards food/medicine freeing up the money they already spend there for nefarious purposes would lead to a terror attack...

[Methais]

This aged poorly. Who would have been able to foresee that letting Iran use 6b towards food/medicine freeing up the money they already spend there for nefarious purposes would lead to a terror attack...

Seran will reply with something incoherent, and then end it by calling you a far right jew hater.

EDIT: And something something Shaps

[Seran]

Well, it seems like US Oil producers have finally learned their lesson and are now producing more oil than any other country in the world. Just took a moderate Democrat running the country for industry to truly shine.

Right about now Trump would be negotiating with OPEC and the API to engineer cuts like he did in 2020. Surprising how he threatened to cut military support of Saudi Arabia to get them to work with him through OPEC.

The United States is producing more oil than any country in history


As the world grapples with the existential crisis of climate change, environmental activists want President Joe Biden to phase out the oil industry, and Republicans argue he’s already doing that. Meanwhile, the surprising reality is the United States is pumping oil at a blistering pace and is on track to produce more oil than any country has in history.


The United States is set to produce a global record of 13.3 million barrels per day of crude and condensate during the fourth quarter of this year, according to a report published Tuesday by S&P Global Commodity Insights.


Last month, weekly US oil production hit 13.2 million barrels per day, according to the US Energy Information Administration. That’s just above the Donald Trump-era record of 13.1 million set in early 2020 just before the Covid-19 crisis sent output and prices crashing.

That’s been helping to keep a lid on crude and gasoline prices.


US output – led by shale oil drillers in Texas and New Mexico’s Permian Basin – is so strong that it’s sending supplies overseas. America is exporting the same amount of crude oil, refined products and natural gas liquids as Saudi Arabia or Russia produces, S&P said.

“It’s a reminder that the US is endowed with enormous oil reserves. Our industry should never be underestimated,” said Bob McNally, president of Rapidan Energy Group.


Record-shattering US production is helping to offset aggressive supply cuts meant to support high prices by OPEC+, mainly Saudi Arabia and Russia. Other non-OPEC oil producers including Canada and Brazil are also pumping more oil than ever before. (Brazil is set to join OPEC+ next year.)


The strength of US output has caught experts off guard. Goldman Sachs analysts on Sunday cut their forecast for oil prices next year. The bank said the “key reason” behind the lowered forecast is the abundance of US supply.


Global demand for crude oil is set to hit a record in 2024 – but it will “easily be met” by the growth in supply, according to S&P’s projections.


Gas prices near $3
All of this has helped to keep oil prices relatively in check. After flirting with $100 a barrel earlier this year, crude has since tumbled back to the $70 to $75 range.

https://www.google.com/amp/s/amp.cnn...ude/index.html

[Suppa Hobbit Mage]

Well, it seems like US Oil producers have finally learned their lesson and are now producing more oil than any other country in the world. Just took a moderate Democrat running the country for industry to truly shine.

Right about now Trump would be negotiating with OPEC and the API to engineer cuts like he did in 2020. Surprising how he threatened to cut military support of Saudi Arabia to get them to work with him through OPEC.



https://www.google.com/amp/s/amp.cnn...ude/index.html

Your cognitive dissonance is showing.

[Parkbandit]

Your retardation is showing.

FTFY

[Suppressed Poet]

$2.25 today at Sam’s Club. I’d just like to say thank you to former President Donald Trump, Governor Wheelchair, & the U.S. domestic oil producers for it to not feel like I’m being raped in the anus with no lube when I fill up my truck. I can’t say that about the grocery store.