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U.S. Crude Production Breaks Records
Posted on 10/31/23 at 1:52 pm
Posted on 10/31/23 at 1:52 pm
quote:
U.S. crude oil production hit an all-time high in August, according to new data published by the Energy Information Administration on Tuesday, with production surpassing pre-covid levels.
U.S. field production of crude oil reached 404.6 million barrels during the month of August, new EIA data shows, for an average of 13.05 million barrels per day--squarely breaking the previous record U.S. drillers set in July of 401.73 million barrels.
quote:
Crude production in Texas in August—home to a large portion of the Permian Basin, rose from 173.775 million barrels to 174.562 million barrels.
Compared to this time last year, U.S. production is up by a total of 33 million barrels for the month.
The new record in crude production in the United States comes shortly after U.S. supermajor ExxonMobil spent $60B on purchasing another Permian player, Pioneer Natural Resources, although most oil companies in the United States have chosen fiscal restraint resulting in a slow and steady increase in output versus the no holds barred investment strategies during previous boom cycles.
Despite the record-breaking production levels seen in August, inventories of crude oil in the United States are estimated to be within 3 million barrels of where it began the year.
Analysts and traders have been watching drilling reports in the United States, with the latest count still 350 fewer active rigs than pre-pandemic levels.
LINK
This post was edited on 10/31/23 at 2:10 pm
Posted on 10/31/23 at 1:55 pm to ragincajun03
The Biden Crime Family loves this post
Posted on 10/31/23 at 1:55 pm to ragincajun03
I wish I understood what this all indicates or means for the future.
Posted on 10/31/23 at 1:57 pm to SECdragonmaster
quote:
I wish I understood what this all indicates or means for the future.
I’ll make it easy for you: vehicular genetalia.
Posted on 10/31/23 at 2:02 pm to JohnnyKilroy
Chicken needs an oil rig emoji for this board. And a gold testicle.
This post was edited on 10/31/23 at 2:11 pm
Posted on 10/31/23 at 2:55 pm to ragincajun03
Will be interesting to see what EIA says tomorrow about weekly production and if we will reach record levels from a weekly basis, we are pretty damn close
Posted on 10/31/23 at 2:57 pm to JohnnyKilroy
quote:
I’ll make it easy for you: vehicular genetalia.
TRUCK: [NUTS’D] NOT NUTS’D
Posted on 10/31/23 at 2:57 pm to JohnnyKilroy
quote:my son is working offshore in his first real after college job. Maybe I should buy him some truck nuts for his honda accord?
I’ll make it easy for you: vehicular genetalia.
Posted on 10/31/23 at 3:01 pm to achenator
quote:
my son is working offshore in his first real after college job. Maybe I should buy him some truck nuts for his honda accord?
Engineers aren’t allowed to have truck nuts
Posted on 10/31/23 at 3:04 pm to The Torch
quote:
The Biden Crime Family loves this post
Is biden really trying to claim this as an accomplishment for his presidency. He did nothing to cause this.
Posted on 10/31/23 at 4:00 pm to SECdragonmaster
quote:
I wish I understood what this all indicates or means for the future.
Record crawfish prices, baw
Posted on 10/31/23 at 4:04 pm to ragincajun03
So is the Biden Crime Syndicate still selling the oil from our SOR at inflated pricing?
Ah yes, corrupt politics does pay-off bigtime - especially when you've got a DOJ and FBI playing CYA.
We choose truth over facts - Creepy Corrupt Joe Biden
Ah yes, corrupt politics does pay-off bigtime - especially when you've got a DOJ and FBI playing CYA.
We choose truth over facts - Creepy Corrupt Joe Biden
Posted on 10/31/23 at 4:36 pm to Zarkinletch416
quote:
So is the Biden Crime Syndicate still selling the oil from our SOR at inflated pricing?
Since you want to make it political...
Biden's DOE has canceled sales from the SPR (not SOR) that were mandated by a Republican Congress.
Posted on 10/31/23 at 5:25 pm to Zarkinletch416
quote:
Zarkinletch416
Jesus Christ .
Posted on 11/1/23 at 8:10 am to fightin tigers
quote:
Since you want to make it political...
....and is it your Biden pals hurling baseless accusations at Donald Trump?.And is your pals in the DOJ who now shield Joe Biden from indictment?
Before you accuse me of 'going political' please do your due diligence.
One more thing? Who killed the Keystone Project? Was that the Republicans? And why am I still paying nearly $ 3.00 a gallon for gasoline now when at one point during President Trump's time in office I paid $ 1.63/gallon?
So many questions, so few answers.
Trump 2024 - He Stands With Us
Posted on 11/1/23 at 8:44 am to Zarkinletch416
quote:
And why am I still paying nearly $ 3.00 a gallon for gasoline now when at one point during President Trump's time in office I paid $ 1.63/gallon
Because one presided over a time when demand for gasoline was at the lowest point and the other when demand was at the higest point?
Because we went through largest reduction in refining capacity ever between those two points?
quote:Believe the company stopped fighting because the permit was canceled and the pipeline value has gone to shite.
Who killed the Keystone Project
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