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Indeed

1mm barrel cut by opec Will put serious pressure on gas prices and ancilliary travel and products costs.

Is this a move by opec to get some leverage or legit move to cut production to get prices up?

Price of gas is already up so it must be for leverage.

Edit to add the word "gas."

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We’re currently sitting at 60 billion barrels in the strategic reserves and have to maintain 240 billion by law. I think we have to have that replenished by year end as well but someone correct me if I’m wrong.

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That's (d)ifferent

We are sitting on the same amount of oil (probably lots more) than those small countries. We are choosing to not go all out on our own production, and are instead outsourcing and allowing OPEC to bend us over a barrel.

Unique historical sedimentation process that is hard to find elsewhere on earth. Couple that with its warm location, sitting on a continental margin, good source rocks and migration pathways, and a shite ton of sandstone with good traps.

Geology doesn't give a shite about a countries borders.

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Any oil gurus can explain how those tiny countries have so much oil. It is just mindboggling to me because I have no understanding of it.

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Because they got lucky, conventional fields are relatively small, they just happen to be sitting on the best ones in the world. It would be like if the Permian Basin was a tiny nation instead of part of two states. The Ghawar field is ridiculously good. The hit the hydrocarbon powerball.

LIV golf aint gunna fund itself

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LIV golf aint gunna fund itself

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Good point they must be buying Rory out of his deal with the PGA.

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We’re currently sitting at 60 billion barrels in the strategic reserves and have to maintain 240 billion by law.

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LOL