Hints and tips:
...Now the US produces almost 20mn b/d of petroleum, roughly on par with consumption. Imports from the Gulf have plummeted, and the US became a net oil exporter for the first time in 2019....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...“On factory floors across the nation, our autoworkers are making cars and trucks that give American drivers a choice — a way to get from point A to point B without having to fuel up at a gas station,” said...
...Brent crude, the international marker, rose by a similar margin to settle at $87.42/b....
...The figures top the 12.9mn b/d estimated in 2023 — itself a record, surpassing levels reached before the Covid-19 pandemic....
...West Texas Intermediate, the US crude benchmark, averaged about $80 a barrel during Biden’s first three years compared with $58/b in Trump’s....
...Before the incident, Exxon pumped 45,000 barrels a day out of the country; afterwards it dropped to 15,000 b/d....
...The US Energy Information Administration estimates average prices of about $83/b for the year....
...At new wells in the Permian, average oil production per drilling rig has increased to 1,319 b/d. A decade ago the figure was about 183 b/d....
...Exxon forecasts oil production of 3.8mn oil-equivalent barrels a day in 2024, compared with 3.7mn b/d this year....
...With a knowing wink to multiple B-movies, a vintage twist awaits: a nasty surprise in the trunk....
...The group of senior class A and subordinate class B bonds are securitised at the operating companies....
...Wood Mackenzie forecasts peak production of 1.5mn b/d of production by 2033 — more than that of many Opec countries....
...Rystad, a research group, said Venezuelan production could increase by a maximum of 200,000 b/d six months after sanctions are eased....
...The figures show how the bank’s chief executive Jamie Dimon has taken advantage of acquisition opportunities — such as with the rescue of First Republic this May — and of errors by rivals to establish JPMorgan...
...Now, the country produces almost 20mn b/d, roughly in line with consumption....
...Venezuela boasts the largest proven oil reserves on the planet and in its heyday pumped about 3mn barrels a day, though years of mismanagement and US-led sanctions have left production well below 1mn b/d...
...Alongside Continental Resources boss Harold Hamm, Hess transformed the state from producing fewer than 100,000 barrels of oil a day in the early 2000s to a peak of 1.5mn b/d in 2019....
...The Permian produces about 5.8mn barrels of oil a day, out of about 13mn b/d in total US oil production....
...The unusually fast ramp-up could push production to 1.2mn b/d by 2027 — equivalent to about a third of Exxon’s current daily production....
...Their combined acreage will further drive the basin’s output to about 2mn b/d by 2027. All told, Exxon will have access to 16bn oil-equivalent barrels, with 15 to 20 years of remaining inventory....
...US oil production rocketed from about 5mn barrels a day in 2008 to 13mn b/d this year....
...The move by Riyadh and Moscow to prop up prices has been surprisingly effective, removing 1.3mn b/d from the market, most likely until the end of the year....
...and 360,000 b/d in 2025....
International Edition