Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
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"
JuanP on Wed, 25th Jul 2018 8:53 am
Lies, lies, and more lies, Davy! You are a compulsive liar and your comments are irrefutable proof of that! Do you have anything truthful to say. Please stop lying, insulting, and attacking others. You are ruining the board!
GregT on Wed, 25th Jul 2018 9:17 am
“Deport Boney Juan. The hateful anti-American resident alien scumbag.”
Davy,
Your state of mental health continues to deteriorate, just as I predicted that it would. You are in desperate need of psychological help.
Please go and talk with somebody.
Davy on Wed, 25th Jul 2018 10:11 am
Playboy, say something please. We don’t care about you Boney Juan and your bragging. Show us you have brain cells stupid. Challenge us with ideas not how wonderful you are.
Deport Boney Juan
Davy on Wed, 25th Jul 2018 10:16 am
Shut up Greggie Juan. Please say something you intellectually lite west coast Canadian anti-American moron. The question is can you make comment that can be debated? You are another narcissistic braggart with the trophy life. Who the frig cares we have bigger fish to fry than being in awe at Greggie Juan the two board narcissists.
GregT on Wed, 25th Jul 2018 10:23 am
You are one severely messed up guy Davy, in desperate need of psychological help.
Please go and speak with a mental healthcare professional.
Davy on Wed, 25th Jul 2018 10:37 am
You are severely stupid and unable to debate a topic.
Say something Greggie Juan
GregT on Wed, 25th Jul 2018 10:41 am
Get help Davy, and please stop trolling this forum with your constant bullying and personal attacks on others.
rockman on Wed, 25th Jul 2018 10:49 am
It never ceases to amaze me: 157 posts and I doubt more then 10% deal with the subject of the thread.
Davy on Wed, 25th Jul 2018 11:36 am
You are the troll and you are personally attacking me now hypocrite. I am still waiting for you to say something so we can debate an idea instead of how deserving you are for respect. Wow, what a spoiled brat. I can’t imagine what your wife goes through dealing with your whining.
MASTERMIND on Wed, 25th Jul 2018 11:42 am
President Trump’s Hollywood Walk of Fame star was smashed to pieces
https://www.cnn.com/2018/07/25/politics/trump-walk-of-fame-star-smash/index.html
GregT on Wed, 25th Jul 2018 11:43 am
“I can’t imagine what your wife goes through dealing with your whining.”
My wife and myself are happily married Davy, and have lived together for a very long time. More of your usual delusional bullshit.
Please stop trolling this forum with your constant bullying and personal attacks.
Davy on Wed, 25th Jul 2018 11:49 am
greggie, Please stop trolling this forum with your constant bullying and personal attacks.
GregT on Wed, 25th Jul 2018 11:52 am
There is nobody on this forum with the username greggie, Davy.
Please stop trolling this forum with your constant bullying and personal attacks.
Davy on Wed, 25th Jul 2018 11:54 am
greggor, Please stop trolling this forum with your constant bullying and personal attacks.
JuanP on Wed, 25th Jul 2018 11:58 am
Davy “We don’t care about you Boney Juan and your bragging …”
I guess by we you mean your multiple personalities, or do you mean you and your goats? There is nobody here called Boney Juan, Davy. Please stop lying, insulting and attacking others.
JuanP on Wed, 25th Jul 2018 11:59 am
Davy “Please stop trolling this forum with your constant bullying and personal attacks.”
You are the one who is constantly bullying and attacking others, Davy. Please stop!
JuanP on Wed, 25th Jul 2018 12:06 pm
Davy “You are another narcissistic braggart with the trophy life.”
Why are you so resentful? Don’t you live in a beautiful wildlife preserve/hunting lodge in the Ozarks for free? Why don’t you get out and go for a swin in your pond or a walk in your forest? You could have a good life to if you stopped being a nationalist extremist. And, there is nobody here called Greggie Juan or Boney Juan. There is GregT, Boney Joe, and me. You are the one that uses sock puppets, not us. Please stop lying, insulting, and attacking others.
GregT on Wed, 25th Jul 2018 12:08 pm
There is nobody on this forum with the username greggor, Davy.
Please stop trolling this forum with your constant bullying and personal attacks.
Davy on Wed, 25th Jul 2018 12:16 pm
Grehggie juan stop trolling this forum. Please say something that can be debated instead of whining you are not getting enough respect,
Deport Boney Juan
JuanP on Wed, 25th Jul 2018 12:29 pm
Davy “Grehggie juan stop trolling this forum. Please say something that can be debated instead of whining you are not getting enough respect,
Deport Boney Juan”
Greggie Juan doesn’t exist anywhere outside your mind. I have never whined about not getting enough respect. I am asking you to respect others and the forum.
Nobody will deport me, Davy. I am a law abiding legal resident of the USA and there is absolutely nothing you can do about it. Besides, I can afford to live anywhere in the world that I want so it wouldn’t mean nothing to me. I can live a good life anywhere; you are the one who is trapped here, not me.
GregT on Wed, 25th Jul 2018 12:38 pm
There is nobody on this forum with the username Grehggie juan, Davy.
Please stop trolling this forum with your constant bullying and personal attacks.
Davy on Wed, 25th Jul 2018 12:48 pm
Grehggie juan, Please stop trolling this forum with your constant bullying and personal attacks.
MASTERMIND on Wed, 25th Jul 2018 12:51 pm
greg, davy and Juanp
Why don’t you guys exchange email addresses and then you can shoot all your insults back and forth..and you can leave this board for others who like to talk about peak oil and the articles posted?
all of you are so easily triggered.
GregT on Wed, 25th Jul 2018 12:52 pm
Davy,
There is nobody on this forum with the usernames grehggie, greggor, grehggie juan, or boney juan.
Please stop trolling this forum with your constant bullying and personal attacks
JuanP on Wed, 25th Jul 2018 12:59 pm
MM, If you have half a neuron you will stay out of it. You are a troll, too, so you have no right to complain. Others do, but you don’t.
Davy on Wed, 25th Jul 2018 1:30 pm
Greggie Juan, if there is nobody on this forum with that name then why the whine? I think you two are just trolling. You two want Davy gone but Davy is here to stay. Davy will continue to moderate and educate Greggie Juan until they change their extremist behavior.
BTW Deport Boney Juan
Davy on Wed, 25th Jul 2018 1:32 pm
Boney Juan quit trolling mm. He has a right to his opinion. Who are you but an ungrateful anti-American resident alien who needs to go home.
Deport Boney Juan
GregT on Wed, 25th Jul 2018 1:37 pm
The only extremist on this forum would be you Davy, and you haven’t moderated or educated anybody. Both would simply be more of your usual delusions.
You need help Davy.
Davy on Wed, 25th Jul 2018 1:44 pm
Greggie, stop trolling me and gumming up the board with your emotional disorders. You are an ugly anti-American Canadian who trolls Americans exclusively. You are sick and your days on this forum should end.
GregT on Wed, 25th Jul 2018 2:20 pm
I am not anti-American Davy, and I am not going anywhere.
More of your delusions. You need help buddy.
Davy on Wed, 25th Jul 2018 2:23 pm
stop behaving like one greggie.
GregT on Wed, 25th Jul 2018 2:37 pm
I could care less what tax farm you were born into Davy, and human imaginary lines drawn in the sand only serve one purpose, to control people.
JuanP on Wed, 25th Jul 2018 2:56 pm
You are not moderating or educating anyone, Davy. You are just making a fool of yourself.
JuanP on Wed, 25th Jul 2018 2:58 pm
It is funny to see your multiple personalities protecting each other, Davy. This board will remain unusable until you stop lying, insulting, and bullying others. You got noone but yourself to blame, Davy.
JuanP on Wed, 25th Jul 2018 3:00 pm
Davy is a liar!
JuanP on Wed, 25th Jul 2018 3:01 pm
Davy is a narcissist!
JuanP on Wed, 25th Jul 2018 3:01 pm
Davy is a bully!
JuanP on Wed, 25th Jul 2018 3:01 pm
Davy is insane!
JuanP on Wed, 25th Jul 2018 3:02 pm
Davy is a goat sucker!
JuanP on Wed, 25th Jul 2018 3:02 pm
Davy is an extremist!
JuanP on Wed, 25th Jul 2018 3:03 pm
Davy is delusional!
Davy on Wed, 25th Jul 2018 3:03 pm
Alert
Deport Boney Juan
JuanP on Wed, 25th Jul 2018 3:03 pm
Davy is a prick!
JuanP on Wed, 25th Jul 2018 3:03 pm
Davy is a motherfucker!
JuanP on Wed, 25th Jul 2018 3:04 pm
Davy is a lunatic!
JuanP on Wed, 25th Jul 2018 3:04 pm
Davy is a moron!
JuanP on Wed, 25th Jul 2018 3:05 pm
Davy is a retard!
JuanP on Wed, 25th Jul 2018 3:07 pm
Davy is an idiot!
JuanP on Wed, 25th Jul 2018 3:08 pm
Davy is a Davy!
JuanP on Wed, 25th Jul 2018 3:08 pm
Davy is full of shit!