re: 2019- United States was the largest oil producer in the World

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Bro, gas was like $1.85 a few years ago

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And what is it now? The Skyrocket in prices just happened to be a coincidence after Jalopy Joe was installed and went through with the Marxist war on Fossil fuels.

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Also, we have never produced 17 mmbpd

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That was self-evident from the other chart where it said we were done 200K per day from like 12 million.

All kinds of misinformation in this thread.

London based, never heard of them before. Likely misprint was BOE/day not BPD, which includes natural gas not actual legal oil. Saudi Arabia produces only enough natural gas to make electricity and use as burner fuel for fired heaters in refineries/chemical plants and in iron reduction plants to turn iron ore into iron pellets for its steel mills (yes it has steel mills)

More like around just shy of 13 million BPD in 2019 It had been steadily rising since 2008 and rise like a mofo during both Obama and Trump.

Imports (except from Canada which rose like crazy) dropped like a mofo from 2007 to recently.

That being said, ALL companies all but stopped drilling in 2020 after Covid hit. Budgets are planned ahead of time with an actual strategy so there was little budgeted for 2021 especially with Biden putting oil/gas in his crosshairs with his first EO's and rhetoric.

HOWEVER, drilling for 2022 is budgeted to be balls to the walls, and for 5 years running should prices maintain.

For refining you need to understand that some of this new production is way light for refineries to use unless blended with heavy crude. They would go bankrupt with refining capacity reduced significantly due light ends in this gassy stuff. That is why refineries which were using Libyan crude really hated using Brent when the embargo was enacted on Libya. The bases in Brent would vapor lock pumps on the ships and in refineries. About the same API gravity but chemical makeup was different.