Why would anyone predict that US oil production would be cut in half this year? There's no basis for such a prediction.

EDIT: reading more better, the prediction is that US oil production will continue to increase, but its GROWTH won't be as great as last year, meaning that production won't go down, it just won't increase at the same rate in increased last year.

Now that makes more sense.

This post was edited on 3/6/24 at 10:29 am

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Posted by hubertcumberdale

Member since Nov 2009

6617 posts

Posted on 3/6/24 at 12:05 pm to TBoy

quote:
EDIT: reading more better, the prediction is that US oil production will continue to increase, but its GROWTH won't be as great as last year, meaning that production won't go down, it just won't increase at the same rate in increased last year.

i imagine its hard to grow production at the same rate as previous years when we are already producing more crude than any other country in history

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

quote:
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.

We eclipsed 13.3mmbpd last month

This post was edited on 3/6/24 at 12:08 pm

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