Reply to thread

Message: <blockquote data-quote="bacha29" data-source="post: 5471790" data-attributes="member: 58386"><p>It's good to see that somebody else has discovered the USEIA. According to the USEIA 2023 estimate US domestic production will be 12.31 mpd. Now this will exceed the 2019 record but not as much as earlier estimates. The lower number is being blamed on ageing wells, storage issues along with the shortage of labor and materials. Then again we alone use 20mpd. In addition Big Oil has made it as plain as can be. Their drilling activity will be dictated by what they can get in the way of price going forward. That 80-90 number is considered to be the sweet spot. It affords the best margins without any major demand  destruction.</p></blockquote><p></p>