[rockdoc123]

$this->bbcode_second_pass_quote('', 'S')arcasm is not an argument. Ghawar has been producing oil for 60 years, there are extensive records of infill drilling, increasing water cut etc and the inability of Saudi Arabia to meet it 13 mbpd day capacity claim.

[rockdoc123]

and pray tell what does the graph illustrate other than the fact that Opec manages it's production to meet demand?

[rockdoc123]

'Demand' sucks at $80 barrel.

And yet the data disagrees with you …..as it always seems to

[rockdoc123]

$this->bbcode_second_pass_quote('', 'E')xactly; 4th quarter 2017 was the peak in demand. Not coincidentally . . . synonymous with the peak in supply. You do understand basic capitalism 101, right?

Supply == demand mediated by price. $80 oil say that demand exceeds supply. Simple stuff really. Try it on for size lol

[EdwinSm]

Looking at the recent charts it does seem to me that pstarr is right that there was a recent peak in average OPEC production and the recent few months have been below that peak. But time here has taught me that one cannot read too much into just a couple of month's figures, so it is far too early to declare "This is the peak (or last major peak) in the mountainous range of OPEC oil production."

A decline this year is interesting, but as the saying goes "One swallow does not a summer make", so "half a year decline in production does not Peak Oil make." There is a down turn, but we need more time to determine if this is just a short one on the (very) bumpy plateau of OPEC oil production or whether this time (after the fourth peak since 2005) it is the start of the fall off the plateau.

[Sys1]

Since the assassination of the journalist Jamal Khashoggi, KSA is the new westworld target.
That's why King of SA and his son Mohammed ben Salmane Al Saoud need to pretend that they can increase or decrease production at will just like God (or Allah, or Buddah if you prefer) in order to be "protected" by USA and keep their crown.
So in their position, I would not be surprised that they use strategic reserves to momentary increase production and keep their position of OPEC main exporter (with Russia) to the world leaders. But, even if it would allow them to earn time, it would be at the terrible expense of a seneca cliff, meaning brutal collapse of oil production after a while.
As the seneca cliff would have to be masked too in a hurry, a war (or at least a financial collapse worse than 2008) would be the best way to do so.
In my opinion, the perfect way to mask a collapse of oil production would be to do war with Iran : People and leaders all other the world would believe that the only reason why oil is not available is war and not peak oil. King of SA would keep his crown for several years more...
"A man reduced to a single instinct: Survive "

[rockdoc123]

$this->bbcode_second_pass_quote('', 'P')erhaps Khashoggi knew too much, that SA had already peaked?

[Sys1]

rockdoc123 : I think that what surprised KSA is that westworld starts to "worry" about human rights in the muslim kingdom.
So the question is not if Khashoggi knew something about peak oil, as he obviously didn't have a clue, the question is :
"What pretext will be put in mainstream medias to confiscate the remaining oil of Middle East?"
Don't forget that USA made up proofs out of thin air with Irak back in 2003...

The economy is about to crash soon, by soon, I mean around 2020. This prevision doesn't come from Nostradamus, it comes from the simple fact that main rates of global banks are currently increasing to cool down oil inflation.
It's the same scenario as the 2008 one, and the result will be the same, and even worse, because we are now more endebted than ever and we have inflated a lot of bubbles, aka real estate, art, bitcoin, facebook... All those bubbles and the banks which feed on it will pop like a financial firework.

Game over.

[rockdoc123]

$this->bbcode_second_pass_quote('', '&')quot;What pretext will be put in mainstream medias to confiscate the remaining oil of Middle East?"
Don't forget that USA made up proofs out of thin air with Irak back in 2003...

[Sys1]

rockdoc123 : You definatally proove your stupidity by writing such nonsense in your last post, so I won't take the time to answer point by point to your logorrhoea. I don't give a shit about convincing blind people. I prefer letting them die in their poo, if they like to do so. I witnessed some poor fellow who enslaved them with debt in 2005 and who are now living quite miserably, all their life turning around on how to pay back the bank.

Nevertheless, what puzzles me is what the hell are you doing on peakoil.com... since when? 2005? Seriously?
Loosing your time on a conspiracy internet site for 13 years? Where people are crazy commies who don't get anything about subprimes and how great the economy is.

Hey, you got better to do than spending your good time with conspiracy theorists :
Take your SUV and buy some good Tesla stocks, you will become rich.

[Outcast_Searcher]

$this->bbcode_second_pass_quote('pstarr', 'I') remember he declaration quite clearly of he doesn't.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'L')oosing your time on a conspiracy internet site for 13 years? Where people are crazy commies who don't get anything about subprimes and how great the economy is.