USA Oil Output to Hit Record This Year

Guno צְבִי

Guno צְבִי

We fight, We win, Am Yisrael Chai
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast.

Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday. The US averaged about 11.9 million barrels a day in 2022.

https://www.rigzone.com/news/wire/u...ail&utm_campaign=daily&utm_content=articleone
 
So the output is up app. 200,000 barrels/day over forecasts.

OPEC+ is cutting production by more than 1,000,000 barrels/day.


Of course production is 'magically' increasing.

They waited for prices to climb.

The U.S is no better than OPEC.

We need a national oil company
 
Do pay attention when in spite of this short term production increase the Strategic Reserve is not refilled after the Revolution drained half of it for political purpose.
 
guno said:
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast.

Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday. The US averaged about 11.9 million barrels a day in 2022.

https://www.rigzone.com/news/wire/u...ail&utm_campaign=daily&utm_content=articleone
Click to expand...

So MAGAs lied their flabby asses off that Biden destroyed the domestic oil production
 
Biden asked the Oil Companies to "Drill Baby Drill" and they responded really well.

And the Oil Companies are still bringing in Record Profits. So who is not happy?

Biden is happy, The Oil Companies are happy. But the people are not happy because they still feel like they are paying too much at the pump.

Well, everybody settle down. Summer gasoline is naturally higher because most US gasoline manufacturers do not offer Alcohol as an additive during the summer because of the evaporate rate increases during our hottest months of the year. So naturally gasoline without the additive of alcohol is going to be higher. Alcohol gasoline will not be available for another 5-6 weeks in most areas of the country. But, the price of gasoline will go down when the alcohol infused gas becomes available again in about 5 to 6 weeks.

And when Summer is over, gasoline will go down just because the demand for it will go down, as school starts and Football season begins.

Gasoline prices will fall back to the $2.70 average cost per gallon in most areas at the beginning of Fall!

But until then, the price of gasoline will probably float around the $3.30 mark for the rest of the Summer here in Dallas!

We are lucky here in Texas, because they manufacture Gasoline here in Texas, and we aren't that far away from the Refineries and we don't have to pay as much for it, like other states do as Gasoline stations pay more for gasoline in areas that are farther away from the refineries in delivery costs. And of course state taxes vary from state to state as well.

SO BE HAPPY- It could be much worse. Gasoline is available and I believe at a great price.

Diesel fuel is another subject. It remains high, too high, and is keeping everything that has to be delivered by diesel Truck higher on cost. It is one of our major inflationary factors.

Joe Biden has asked the Gasoline Refineries to make more Diesel Oil available, but, that will only increase gasoline prices according to the Refineries. It is one of those Robbing Peter to Pay Paul sort of things. But, even if we have to pay more for gasoline, I still think it would be worth it to bring overall inflation down. But that is just me, and my little car doesn't use much gas.

SO, I will ask you! Would you be willing to pay a little more for your gasoline- If it were to bring inflation down back to normal levels on most everything else?

Yes, No? Maybe?
 
Last edited:
Geeko Sportivo said:
Biden asked the Oil Companies to "Drill Baby Drill" and they responded really well.

And the Oil Companies are still bringing in Record Profits. So who is not happy?

Biden is happy, The Oil Companies are happy. But the people are not happy because they still feel like they are paying to much at the pump.

Well, everybody settle down. Summer gasoline is naturally higher because most US gasoline manufacturers do not offer Alcohol as an additive during the summer because of the evaporate rate increases during our hottest months of the year. So naturally gasoline without the additive of alcohol is going to be higher. Alcohol gasoline will not be available for another 5-6 weeks in most areas of the country. But, the price of gasoline will go down when the alcohol infused gas becomes available again in about 5 to 6 weeks.

And when Summer is over, gasoline will go down just because the demand for it will go down, as school starts and Football season begins.

Gasoline prices will fall back to the $2.70 average cost per gallon in most areas at the beginning of Fall!

But until then, the price of gasoline will probably float around the $3.30 mark for the rest of the Summer.

We are lucky here in Texas, because they manufacture Gasoline here in Texas, and we aren't that far away from the Refineries and we don't have to pay as much for it, like other states do as Gasoline stations pay more for gasoline in areas that are farther away from the refineries in delivery costs. And of course state taxes vary from state to state as well.

SO BE HAPPY- It could be much worse. Gasoline is available and I believe at a great price.

Diesel fuel is another subject. It remains high, too high, and is keeping everything that has to be delivered by diesel Truck higher on cost. It is one of our major inflationary factors.

Joe Biden has asked the Gasoline Refineries to make more Diesel Oil available, but, that will only increase gasoline prices according to the Refineries. But, even if we have to pay more for gasoline, I still think it will be worth it to bring overall inflation down.

SO, I will leave that up to you! Would you be willing to pay a little more for your gasoline- If it were to bring inflation down back to normal levels?

Yes, No or Maybe?
Click to expand...

Post #5 proves that this claim is BullShit.

Did not read but the rest of your post is almost certainly more of the same.
 
Two of my undergraduate classmates are owners of two separate oil companies they started. They've made a fortune.
Both started as engineers with Exxon in Houston.
 
Hawkeye10 said:
Drilling rigs in operation is down 14% from last year, down 19% from Nov 2019, the "Biden " reduction will come, there is no way to avoid it.

https://rigcount.bakerhughes.com/

https://investors.bakerhughes.com/n...ker-hughes-announces-november-2019-rig-counts
Click to expand...

Oil companies don't make money from how many wells they drill. They get paid on the amount of oil they produce.

Oil is hitting record levels even with a substantial amount of the work force teleworking and not burning gasoline.

Drilling and exploration technology have reduced the risk of drilling dry holes. One horizontal well can produce the same amount of oil it used to take like five wells.
 
guno said:
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast.

Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday. The US averaged about 11.9 million barrels a day in 2022.

https://www.rigzone.com/news/wire/u...ail&utm_campaign=daily&utm_content=articleone
Click to expand...

Sounds like Democrat propaganda to me

https://www.reuters.com/markets/com...igs-eighth-month-row-baker-hughes-2023-07-28/


https://ycharts.com/indicators/us_oil_rotary_rigs


It seems production is not increasing


https://www.reuters.com/markets/commodities/us-oil-gas-production-begins-flatten-kemp-2023-08-04/

https://www.rigzone.com/news/wire/u...o_fall_next_month-18-jul-2023-173371-article/
 
guno said:
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast.

Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday. The US averaged about 11.9 million barrels a day in 2022.

https://www.rigzone.com/news/wire/u...ail&utm_campaign=daily&utm_content=articleone
Click to expand...

We don't use our crude here...you know that, right?
 
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