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re: Oil prices could climb; 2024 US production growth outlook halved by RBC Capital
Posted on 3/6/24 at 12:05 pm to TBoy
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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