Economy 53,090 Posted January 21, 2017 Share Posted January 21, 2017 https://www.google.ca/amp/www.marketwatch.com/amp/story/guid/8AD29176-DED8-11E6-AA31-16C7E0E52394 The US rig count rose 29 this last week alone, the 11th increase of the past 12 weeks The US could add as much as 500,000 barrels a day over next year in production if prices remain above $50/barrel Rising Output from Canada and Brazil may also put a cap on Prices Russia also has the capacity to increase production once the 6 month OPEC deal expires. Link to post Share on other sites More sharing options...
Saint Hollywood 37,364 Posted January 21, 2017 Share Posted January 21, 2017 is this good or bad Link to post Share on other sites More sharing options...
Economy 53,090 Posted January 21, 2017 Author Share Posted January 21, 2017 2 hours ago, Saint Hollywood said: is this good or bad Good for US economy, bad for anyone hoping for higher Oil Prices We might be stuck with oil prices below $60/barrel for at least 1 more year because oil in storage inventories remain at record high levels and demand is still barely keeping up with supply And to think when I was a kid 10-15 years ago they kept talking about oil running out really soon and there being supply problems Link to post Share on other sites More sharing options...
Saint Hollywood 37,364 Posted January 21, 2017 Share Posted January 21, 2017 9 minutes ago, Economy said: Good for US economy, bad for anyone hoping for higher Oil Prices We might be stuck with oil prices below $60/barrel for at least 1 more year because oil in storage inventories remain at record high levels and demand is still barely keeping up woth supply And to think when I was a kid 10-15 years ago they kept talking about oil running out really soon and there being supply problems good for the u.s.? slay Link to post Share on other sites More sharing options...
Economy 53,090 Posted January 21, 2017 Author Share Posted January 21, 2017 4 minutes ago, Saint Hollywood said: oh lordt Which part? Link to post Share on other sites More sharing options...
Saint Hollywood 37,364 Posted January 21, 2017 Share Posted January 21, 2017 3 minutes ago, Economy said: Which part? nothing the u.s. seems to be fine with oil Link to post Share on other sites More sharing options...
Economy 53,090 Posted January 21, 2017 Author Share Posted January 21, 2017 1 minute ago, Saint Hollywood said: nothing the u.s. seems to be fine with oil It still imports over 9 Million barrels a day tho. It imports about 40% of its consumption still But 10 years go it imported like 70% of its consumption before the shale revolution Link to post Share on other sites More sharing options...
Saint Hollywood 37,364 Posted January 21, 2017 Share Posted January 21, 2017 4 minutes ago, Economy said: It still imports over 9 Million barrels a day tho. It imports about 40% of its consumption still But 10 years go it imported like 70% of its consumption before the shale revolution Link to post Share on other sites More sharing options...
Economy 53,090 Posted January 21, 2017 Author Share Posted January 21, 2017 4 minutes ago, Saint Hollywood said: Canada where im from is funnier... We produce over twice as much oil as we consume... but we have no pipeline connecting where the Oil in Canada is to where most of our population is So we export almost all our oil to the US and import almost all our oil consumption from Middle East and US Link to post Share on other sites More sharing options...
Saint Hollywood 37,364 Posted January 21, 2017 Share Posted January 21, 2017 2 minutes ago, Economy said: Canada where im from is funnier... We produce over twice as much oil as we consume... but we have no pipeline connecting where the Oil in Canada is to where most of our population is So we export almost all our oil to the US and import almost all our oil consumption from Middle East and US wow omg Link to post Share on other sites More sharing options...
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