Friday, May 03, 2019

Energy 124, US, Russia, Saudi oil production

US oil production keeps rising, now at 12.3 million barrels per day (mbpd); good job, Trump. Putin and Russia are angry since their main business is exporting oil and gas they hate more competition. From this angle alone, the Trump-as-Putin-puppet is an idiotic moronic proposition at the onset.

Russia oil production is 11.05 mbpd max, Saudi Arabia oil production is 11.1 mbpd max, now down to only 9.8 mbpd because of the OPEC + Russia collusion on oil output cut.

Oil prices should go down, world oil production should go up, and governments should not over-tax oil production and trading.

Meanwhile among the recent stories, May 02, 2019:

See also:

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