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Page added on July 23, 2018
US crude oil output hits 11 million barrels per day for first time ever
U.S. crude oil production last week hit 11 million barrels per day (bpd) for the first time in the nation’s history, the Energy Department said on Wednesday, as the ongoing boom in shale production continues to drive output.
The gains represent a rapid increase in output, as the data, if confirmed by monthly figures, puts the United States as the second largest producer of crude oil, just behind Russia, which was producing 11.2 million bpd in early July, according to sources.
“Eleven million would have made us the biggest producer in the world; but actually Russian production in June was above 11 million. So, this is kind of like the space race,” said Sandy Fielden, director of research in commodities and energy at Morningstar.
The United States has added nearly 1 million bpd in production since November, thanks to rapid increases in shale drilling.
“I don’t think production is plateauing at 11. It’s fully expected to grow beyond 11 – we won’t be topping out there,” said Scott Shelton, a broker at ICAP in Durham, North Carolina.
Crude inventories USOILC=ECI increased 5.8 million barrels in the week to July 13, compared with analysts’ expectations for a decrease of 3.6 million barrels.
Crude futures edged down on the data. U.S. crude CLc1 was down 55 cents to $67.51 a barrel, while Brent LCOc1 dropped 39 cents to $71.77 a barrel. The benchmarks have gained steadily since bottoming out below $30 a barrel in early 2016; U.S. crude is up nearly 12 percent this year.
Weekly production figures from the U.S. Energy Information Administration are notorious for revisions, as monthly data, released on a lag, shows U.S. production at 10.5 million bpd as of April.
In the last several weeks, the EIA has rounded off U.S. production to the nearest hundred thousand barrels, so that figure had been stuck at 10.9 million bpd for over a month.
This report comes amidst worries that infrastructure bottlenecks, which make it difficult for producers to get their oil to market, could soon start curtailing output.
Morgan Stanley analysts said recently that pipeline constraints could cap 2019 growth in west Texas. They said the Permian shale play has about 3.56 million bpd of pipeline capacity, about what is being produced there now.
Even as production ramps up, the United States, the world’s top oil consumer, still depends on imports. Net U.S. crude imports USOICI=ECI rose last week by 2.2 million bpd to about 9 million bpd.
Gasoline stocks USOILG=ECI fell by 3.2 million barrels, compared with analysts’ expectations for a 44,000-barrel drop.
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 371,000 barrels, versus expectations for a 873,000-barrel increase.
222 Comments on "US crude oil output hits 11 million barrels per day for first time ever"
MASTERMIND on Wed, 25th Jul 2018 12:44 am
Greg
Experience is over rated..Why?
We learn from history, we learn nothing from history..
-George B Shaw
Anonymouse1 on Wed, 25th Jul 2018 12:45 am
MM = the exceptionalturd. An immature, mature, lunatic, alleged farmer, confirmed goat molster, and rambling sock puppeteer. Just, not a very good one.
MASTERMIND on Wed, 25th Jul 2018 12:51 am
Trump’s top economic adviser, Larry Kudlow, has said he expected the EU to come with a “significant” trade offer, but the EU said that would not happen
https://www.reuters.com/article/us-usa-trade-eu/eus-juncker-will-not-bring-trade-offer-to-trump-talks-commission-idUSKBN1KD17O
Makati1 on Wed, 25th Jul 2018 1:07 am
MM, your immaturity is not saved by irrelevant quotes from other people. You have no proof that he ever said that, or the context in which he might have said it. If you do, show me.
MASTERMIND on Wed, 25th Jul 2018 1:10 am
When the collapse hits in a few year, the men will rape the women brutally …. there will be two or three men on one woman sometimes even — husbands and children were forced to watch …. the younger more attractive women will be raped multiple times and be passed around the men..
And if any man attempts to fight back-they will force him to watch his wife then his two daughters be gang raped..
This is the fate that awaits the Koombaya Doomie Preppers.
Makati1 on Wed, 25th Jul 2018 1:15 am
“… the famous George Bernard Shaw quote: ““We learn from history that we learn nothing from history.” (Without the full sentence, the quote can imply that the STUDY of history is a waste of time, which it certainly is not.)”
“More and more, we are projecting our own values on to those who lived in the past as though there can be no other way to live, or to think, than the way we live and think now… All ages have their prejudices. We’re no different.
We are different in one respect, though. Ours is the only one ever to think that it has nothing at all to learn from the past. One result of this is that it has become all but impossible for us to make a drama set in the past in which a credible character doesn’t think exactly like us.
The writer CS Lewis called this kind of attitude ‘chronological snobbery’, meaning the belief that the latest thing is always the best. We’re all chronological snobs now.”
– David Quinn, “The Irish Independent”
“A person with no sense of the past is a person who is a stranger both to his or her own roots and to the human condition more generally. For human beings are not creatures of nature; we are inheritors of the history that has made us what we are. Not to know our history is not to know ourselves… And even from a practical point of view, to be ignorant of the past is to make us impotent and unprepared before the present.” Anthony O’Hear, “The Telegraph”
“The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.” GK Chesterton
“That men do not learn very much from the lessons of history is the most important of all the lessons of history.” Aldous Huxley
MASTERMIND on Wed, 25th Jul 2018 1:17 am
Madkat
Hegel was right when he said that we learn from history that man can never learn anything from history..
-George Bernard Shaw
https://www.brainyquote.com/quotes/george_bernard_shaw_109539
MASTERMIND on Wed, 25th Jul 2018 1:18 am
Madkat
“That men do not learn very much from the lessons of history is the most important of all the lessons of history.”
-Aldous Huxley
MASTERMIND on Wed, 25th Jul 2018 1:21 am
Madkat
Your IQ and cognitive functions have been on the decline for half a century now..And you are not even college educated..You are just an ignorant old geezer who can’t get laid anymore so he wishes death upon others who have it better than him..
Nobody loves you anymore..you will die alone..
print baby print on Wed, 25th Jul 2018 3:14 am
That men do not learn very much from the lessons of history is the most important of all the lessons of history.”
-Aldous Huxley nice one
Makati1 on Wed, 25th Jul 2018 3:55 am
MM: The debate subject was learning by personal experience, not from a book.
“Not only is experience the best educator, it is the only educator.” – GregT
“Personal experience” MM. Do you comprehend?
Davy on Wed, 25th Jul 2018 5:36 am
“That 3AM wake-up flash is more possible now than ever. Slip slidin’…”
A purveyor of hate and death would say something like that.
Davy on Wed, 25th Jul 2018 5:44 am
“calling you out on your constant bullying and abusive behaviour towards others on this forum Davy”
What kind of talk is that greggor. You both are very abusive and friends and allies. Sometimes you act so stupid even though it is part of your dark strategy. Stop your hypocritical game you gangbanger. Juan is the biggest abuser on this forum. He is a loudmouth lunatic. I have offered both you scumbags a way out of our little battles. We ignore each other. I offer this not because you two are hurting me. I offer it in the name of what is best for the board. You two scumbags could give a shit. You obsessively make attacks that last all day. For you two it is about board ownership and control. You will continue to be moderated until you change your hateful anti-Americanism and rude gangbanging ways. Got it?
Davy on Wed, 25th Jul 2018 5:50 am
“I know I keep talking about perspective, but that it the best way to understand today’s world.”
WTF, is your perspective 3rd world? You perspective is pushing a demented agenda of daily hate. You gum up the board with your anti-Americanism. You are not very intelligent and the reason is you think you are and say far too many things without support. Most of the time you will offer up your copy and paste references and then never even say anything but “slip slidin”. Try saying something and maybe it would slow you down and what you would say would be more intelligent.
Davy on Wed, 25th Jul 2018 5:55 am
“Not only is experience the best educator, it is the only educator.” – GregT”
That is BS from another board brain wannabe. It is nature and nurture and the nurture is about training and experience. The experience needs to be relevant and effective. Greggor thinks he understands life and that is his problem. He thinks his way is “the way” and it is not. West coast Canadians think they are the center of the intellectual universe but they are not. They are a little ass pimple on a big world.
JuanP on Wed, 25th Jul 2018 6:04 am
Davy “What kind of talk is that greggor.”
Nothing more than the truth. And nobody here is called greggor.
JuanP on Wed, 25th Jul 2018 6:08 am
Davy “Juan is the biggest abuser on this forum. He is a loudmouth lunatic. I have offered both you scumbags a way out of our little battles. We ignore each other. I offer this not because you two are hurting me. I offer it in the name of what is best for the board.”
You are the biggest abuser on this board, not me. You have obvious mental problems. I have offered you a way out. Stop insulting and bullying others and I will leave you alone. You don’t care about anyone other than yourself, so don’t pretend to.
JuanP on Wed, 25th Jul 2018 6:13 am
Davy “You obsessively make attacks that last all day. For you two it is about board ownership and control.”
That would be you, Davy. You are lying and projecting again. Please stop lying, insulting, and abusing others.
JuanP on Wed, 25th Jul 2018 6:14 am
Davy “You perspective is pushing a demented agenda of daily hate.”
And what do you do, Davy?
JuanP on Wed, 25th Jul 2018 6:17 am
Davy “He thinks his way is “the way” and it is not.”
You are the one who thinks there is only one way and attacks and insults everyone who disagrees with you, Davy. You have been doing it daily for years here.
Davy on Wed, 25th Jul 2018 6:19 am
Quit wasting our time stupid and say something intelligent. We can debate something and see how tough you are you uneducated Miami Beach playboy. You are just board noise. Stay on topic also. You are prone to extremist off topic subjects.
Deport boney juan
JuanP on Wed, 25th Jul 2018 6:22 am
Davy “West coast Canadians think they are the center of the intellectual universe but they are not. They are a little ass pimple on a big world.”
That is a false generalization and a childish insult. It is nothing more than an insulting lie. Just like saying all Americans are delusional exceptionalists would be, Generalizations are a sign of a biased personality. Please stop lying, insulting, and abusing others.
Davy on Wed, 25th Jul 2018 6:23 am
I am going to keep a file on when you gangbangers actually make an intelligent comment that can be debated. Most of the time you guys are grabassing like a Facebook feed telling each other how wonderful you are or defending the lunatic behavior of a senile senior. You guys are toxic to the truth of this board.
Deport Boney Juan
JuanP on Wed, 25th Jul 2018 6:29 am
Davy “Deport boney juan”
You made five grammatical errors in a three word sentence. That is not easy to do. Did you mean to say “Repatriate, Boney Juan.”?
Please stop abusing others. You are ruining the board for everyone. I don’t intend to leave the USA anytime soon. Your repeating the same thing over and over again is a symptom of your problems. Do you realize that you have been lying, insulting, and abusing others here for five years without achieving anything useful?
JuanP on Wed, 25th Jul 2018 6:32 am
Davy “I am going to keep a file on when you gangbangers actually make an intelligent comment that can be debated.”
Knock yourself out! I would consider that a complete waste of time, but I am not you. I have a life outside of PO, I am not a full time self appointed “board moderator”.
Davy on Wed, 25th Jul 2018 6:37 am
Sure you do boney juan. I think all that community gardening shit you bragged about were lies. If some of it were true then I bet you are not doing it now because you were kicked out for bad behavior. You obviously changed mentally over the last few months and I bet this is why you don’t do anything now but the cheap unfulfilling life of a playboy swimming on the beach and eating when you like. Start doing something you lying moron. PO is all you do now because it is the last place you can go and demonstrate your bad behavior.
deprt bony juan
Makati1 on Wed, 25th Jul 2018 6:40 am
Davy is so obsessed with his stalking that he is now “going to keep a file”. I guess proving his immaturity and arrogance now requires a file to keep track of all of the attacks he makes.
I am not sure why. They are mostly cut and paste reruns of old bullshit. Nothing intelligent or new. But, after five years, it must be difficult keeping track of them. He should soon realize that they are ineffective.
Get a life Davy. You obviously don’t have one if tracking people you do not know, nor will ever meet, is so important to you.
JuanP on Wed, 25th Jul 2018 6:42 am
Davy “Most of the time you guys are grabassing like a Facebook feed telling each other how wonderful you are or defending the lunatic behavior of a senile senior.”
Is grabassing a word? I don’t know it. I have never seen a Facebook feed so I don’t know what you are talking about. I have never told anyone on this board that they are wonderful, so that is simply another one of your endless lies. And, there are not any senile seniors on this board, as far as I can tell. Are you going to add age discrimination to your long list of character flaws? Please stop lying, insulting, and abusing others!
JuanP on Wed, 25th Jul 2018 6:47 am
Davy “Sure you do boney juan. I think all that community gardening shit you bragged about were lies. If some of it were true then I bet you are not doing it now because you were kicked out for bad behavior.”
Sure I do what exactly? What you think is completely irrelevant to me and the rest of humanity. You are probably the only person in the world who cares what you think about me. Community gardens in Miami close for the Summer, Davy, I’ve already told you that. So, please stop lying and attacking people you don’t even know.
JuanP on Wed, 25th Jul 2018 6:50 am
Davy “Start doing something you lying moron. PO is all you do now because it is the last place you can go and demonstrate your bad behavior.”
I am not the liar here, Davy, you are. Are you projecting again? You are the one who obviously doesn’t do much besides “moderating” the board full time with your lies, insults, and personal attacks.
JuanP on Wed, 25th Jul 2018 6:58 am
Davy “deport bony juan”
I can’t deport myself, Davy. You obviously don’t know the meaning of the word. I can REPATRIATE myself if I wanted to, but I don’t want to. I think that you are angry because YOU can’t deport me, but you wish you could. I also think that the fact that I can communicate better than you in English makes you angry, too. You have very serious anger management issues.
Deport
verb
1.
expel (a foreigner) from a country, typically on the grounds of illegal status or for having committed a crime.
Davy on Wed, 25th Jul 2018 7:35 am
“Davy is so obsessed with his stalking that he is now “going to keep a file”. I guess proving his immaturity and arrogance now requires a file to keep track of all of the attacks he makes.”
You are an extremist anti-American spreading half-truths and out right distortion. You need to be moderated and educated so these distortions can be moderated with balance. A file will just show the board the Facebook gang’s unintelligent activity as opposed to intelligent debatable conversation. You are toxic to this board, 3rd world. When you reference an article at least some of the time do more than a one liner or stupid phase.
“I am not sure why. They are mostly cut and paste reruns of old bullshit. Nothing intelligent or new. But, after five years, it must be difficult keeping track of them. He should soon realize that they are ineffective.”
Sure you know why 3rd world, this has been going on 4 years now. You are an extremist anti-American spreading an emotional version of life. It is narrow minded and hateful. You make an effort to make my life, my family, and my community to look as bad as possible. This is the mission of the anti-American Facebook gang.
“Get a life Davy. You obviously don’t have one if tracking people you do not know, nor will ever meet, is so important to you.”
I have a life but your days are running out pushing 80.
Davy on Wed, 25th Jul 2018 7:39 am
Dumbass Miami playboy, I gave you two paragraphs of something to debate. Are you afraid to debate or do you want to continue to whine and gnash your teeth? “BOO HOO, Davy is kicking my ass and making the anti-American Facebook gang look like morons”. That is all your multiple comments are. Get a life pussy.
DEPORT BONEY JUAN
JuanP on Wed, 25th Jul 2018 7:48 am
Davy ““BOO HOO, Davy is kicking my ass and making the anti-American Facebook gang look like morons””
Why do you put quotation marks on your own words? I NEVER said that.
JuanP on Wed, 25th Jul 2018 7:51 am
Davy “Dumbass Miami playboy, I gave you two paragraphs of something to debate.”
You haven’t said anything I would consider worth debating. Quit lying, insulting, and attacking others.
JuanP on Wed, 25th Jul 2018 7:52 am
Davy “Get a life pussy.”
Maybe you should follow your own advice!
JuanP on Wed, 25th Jul 2018 7:53 am
Davy “Are you afraid to debate or do you want to continue to whine and gnash your teeth?”
Projecting again, Davy?
JuanP on Wed, 25th Jul 2018 7:55 am
Davy “DEPORT BONEY JUAN”
Nobody will deport me, Davy, because I am here legally and have never broken any laws. Please stop your attacks.
Davy on Wed, 25th Jul 2018 7:56 am
Ok, “intellectually lite” South American playboy. You make an “on topic” comment and I will debate it. Geeze you are a lazy whiner. Do you not have anything to say? There are plenty of articles on the board. Spew out some of your football rhetoric or anti-American extremism and we will see if it can be moderated. Who knows maybe you will learn something today besides your mindless beach, pool, and gym routine.
JuanP on Wed, 25th Jul 2018 7:57 am
Davy “You are toxic to this board, 3rd world.”
You are projecting again, Davy.
Davy on Wed, 25th Jul 2018 7:58 am
GO HOME BONEY JUAN SO WE DON’T HAVE TO DEPORT YOU
JuanP on Wed, 25th Jul 2018 8:01 am
Davy “Ok, “intellectually lite” South American playboy. You make an “on topic” comment and I will debate it.”
I will do what I want. You can say whatever you want, but you have no power over me or anyone else here. I am not a playboy. Your comment is not particularly “intellectually heavy”, Davy. Please stop lying, insulting, and attacking others. You are ruining the board for everyone.
JuanP on Wed, 25th Jul 2018 8:04 am
Davy “GO HOME BONEY JUAN SO WE DON’T HAVE TO DEPORT YOU”
I am home, Davy, and you have absolutely no power to deport anyone. Does using the word “we” help you to feel less lonely? You are completely alone in this fight, there is no “we”.
JuanP on Wed, 25th Jul 2018 8:06 am
Davy “It is narrow minded and hateful.”
You are projecting again, Davy.
Davy on Wed, 25th Jul 2018 8:16 am
“I will do what I want. You can say whatever you want, but you have no power over me or anyone else here.”
Translation: I don’t have anything to say just emotional gibberish.
“I am not a playboy.”
ROFLMAO, BULLSHIT. Boney juan, you been carrying on about being a playboy for years now. You don’t care you have said many times because you care about yourself. Nothing you do matters anyway, you have said. Take your big road trip you bragged about earlier. You have already written off the human race and the environment so for you it is “who cares”. That is the attitude of a wealthy South American playboy. Of course it doesn’t matter to you why should it you are rich. You have told everyone you are rich and don’t have to work.
“Your comment is not particularly “intellectually heavy”
I never said they were but I am saying they are debatable but you are not interested in debate. You are an obsessive anti-American who want your gang to own the board. I make you morons look like shit daily. You failure to debate today proves my point.
JuanP on Wed, 25th Jul 2018 8:35 am
Davy “Translation: I don’t have anything to say just emotional gibberish.”
You are, by far, the one with bigger emotional issues, Davy.
JuanP on Wed, 25th Jul 2018 8:39 am
Davy “Boney juan, you been carrying on about being a playboy for years now.”
No, I haven’t. I have been married to the same woman, and faithful to her, for almost 30 years, something you couldn’t possibly understand. You are the one who has had multiple failed relationships with different women, Davy, not me. I have also been working very hard since I emancipated myself when I was 16 years old. You are lying compulsive, Davy, and that makes you a serial liar.
JuanP on Wed, 25th Jul 2018 8:43 am
Davy “You are an obsessive anti-American who want your gang to own the board. I make you morons look like shit daily.”
I am not anti-American, much less obsessive about it. You are the one obsessed about the USA, not me. I want what is best for the whole world, including the USA. That is another lie. You only make yourself look bad with your comments, Davy, not others.
Davy on Wed, 25th Jul 2018 8:49 am
Liar, and quit bragging on yourself. When are you going to make an intelligent comment South American playboy. This site is for debating topics not boo hooing and self promotion. At the end end of the day visitors come here to learn. They could give a shit about us, except for your gang who is interested in board ownership. Say something stupid.
Deport Boney Juan. The hateful anti-American resident alien scumbag.
JuanP on Wed, 25th Jul 2018 8:50 am
Davy “You have told everyone you are rich and don’t have to work.”
Finally a truth from your lying mouth! Yes, I am independently wealthy, and I do come from an extremely rich family, though I have never used my family’s money for my own benefit since I was 16. I worked very hard, lived below my means, and invested wisely for 30 years, which allowed me to retire comfortably at the age of 46. And, I don’t have to work, but I choose to do it anyway to keep busy and help others. I have worked significantly more than 2,000 hours a year every year for decades. You should try it!