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Recently hit an all time high of 13.2 million barrels per day along with a 25% drop in petro drilling activity.

Bloomberg, WSJ, CNBC

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Interesting.

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Hahahaha Hahahaha

The Reflection of this Cornucopia in Fuel Prices and Distillate's

Hahahaha Hahahaha

It’s Cum’n

Hahahaha Hahahaha

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Originally Posted by akrange
It’s Cum’n

When?

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There’s not any rigs, I didn’t think there had been a lot of new development in drilling in last ten years, but after rigs popping up around here and pads setting ready for rigs to be moved in, talking to Land men for oil companies, it has changed a lot, they are horizontal drilling two miles out now, so it doesn’t take as many rigs, they are saying 130 to 150 a barrel coming, at that price how can they stop it.

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Originally Posted by Stickfight
Originally Posted by akrange
It’s Cum’n

When?

When the stock market hits 15k like it did during COVID.


Conduct is the best proof of character.
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Originally Posted by Angus55
There’s not any rigs, I didn’t think there had been a lot of new development in drilling in last ten years, but after rigs popping up around here and pads setting ready for rigs to be moved in, talking to Land men for oil companies, it has changed a lot, they are horizontal drilling two miles out now, so it doesn’t take as many rigs, they are saying 130 to 150 a barrel coming, at that price how can they stop it.

Biden is now trying to cut deals with Venezuela right now beyond the present standoff with them.

Claims he’s trying to checkmate China there.

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With automation, and technological advancement the oil industry can do far more with less equipment than it could even ten years ago.

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Originally Posted by Angus55
There’s not any rigs, I didn’t think there had been a lot of new development in drilling in last ten years, but after rigs popping up around here and pads setting ready for rigs to be moved in, talking to Land men for oil companies, it has changed a lot, they are horizontal drilling two miles out now, so it doesn’t take as many rigs, they are saying 130 to 150 a barrel coming, at that price how can they stop it.

They can say that but in anyone's sane heart of hearts there's a couple wars going on that will be the biggest influence and no one knows which way they're going to go. And if the wars stop tomorrow prices are going down. Which they were last week before Gaza lit up.

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Has Biden refilled the oil reserves he stole from to win the mid-terms?

I didn't think so....


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The Saudi's have given Biden and Co the middle finger 3 times now. Crude prices will be whatever Saudi and the rest of the ragheads want them to be. They own Biden now, after having NEVER owned Trump.


It is irrelevant what you think. What matters is the TRUTH.
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Originally Posted by JGRaider
The Saudi's have given Biden and Co the middle finger 3 times now. Crude prices will be whatever Saudi and the rest of the ragheads want them to be. They own Biden now, after having NEVER owned Trump.


Because Trump let us explore and drill.

Biden has restricted that, as well as making investing in oil and gas a high tax venture.

FJB.


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Posting this here again for those with ADD.

Originally Posted by chesterwy
It’s on its way up. And the industry is laying down rigs.
“Gee, I wonder why? Could the policies of the current administration have anything to do with supply which greatly affects price. Just sitting her in the Permian and wondering. Elections have consequences. You are now witnessing the results of the 2020 election. Those that forget are condemned to repeat.”

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Originally Posted by rockinbbar
Has Biden refilled the oil reserves he stole from to win the mid-terms?

I didn't think so....

We got no fuel, no small arms ammo, no mid line mortars, cuba has are latest plane, and Chicoms are about to walk into Taiwan while Biden euthanize's millions in the sandbox again.

WTF up people. It's all about Global Population Reduction.


America is (supposed to be) a Republic, NOT a democracy. Learn the difference, help end the lie. Fear a government that fears your guns.
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Originally Posted by rockinbbar
Has Biden refilled the oil reserves he stole from to win the mid-terms?

I didn't think so....

The SPR presently has 351 million barrels which approximately 1/2 of the 727 million barrels that it had at the peak.

Another 424 million barrels are in storage by private companies.

Politico

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The efficiency of the oil and gas industry in the last 10-15 years has been incredible. Vertical wells with 3-8 stages compared to horizontal wells currently being drilled 3+ miles and containing over 100 stages. Hydraulic fracturing has increased from 1-2 stages per day and pumping 2-6 hours per day to many companies pumping 20+ hours every day, simulfrac operations where theoretically 48 hours of pumping can be done in 24, and all this has been done while constantly being bombarded with more regulations from .gov agencies.

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Originally Posted by Oklahomahunter
The efficiency of the oil and gas industry in the last 10-15 years has been incredible. Vertical wells with 3-8 stages compared to horizontal wells currently being drilled 3+ miles and containing over 100 stages. Hydraulic fracturing has increased from 1-2 stages per day and pumping 2-6 hours per day to many companies pumping 20+ hours every day, simulfrac operations where theoretically 48 hours of pumping can be done in 24, and all this has been done while constantly being bombarded with more regulations from .gov agencies.

Refineries are wringing every ounce of efficiency out of their operations also. XOM is getting big into AI as are others to go a step beyond mere automation of their processes.

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US Crude Oil Field Production is at a current level of 12.90M, unchanged from 12.90M last week and up from 12.00M one year ago. This is a change of 0.00% from last week and 7.50% from one year ago. US Oil Production measures the daily number of barrels produced in the United States in oil fields.

The IEA warned that Saudi Arabia and Russia's oil supply reduction could lead to renewed fluctuations in oil prices. Global oil markets are on the verge of a 1.2 million barrels per day shortage in the second half of 2023, according to the International Energy Agency.Sep 13, 2023


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O&G exports are at a record high doing what most here hoped for, increased exports...


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Originally Posted by Houston_2
Recently hit an all time high of 13.2 million barrels per day along with a 25% drop in petro drilling activity.

Bloomberg, WSJ, CNBC

$86/barrel will do that. Toot- a huge thanks for another headline that nobody else would have figured out on their own. Good grief.

Last edited by cfran; 10/17/23.

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