OilPrice.com: OPEC+ Misses The Mark Yet Again.
Dragged down by plummeting Russian production, continuous underperformance in Angola and Nigeria, and port disruptions impacting Kazakhstan, the collective output of OPEC+ countries was 2.7 million bpd below the targeted level for April, marking the worst month in terms of production discipline in the oil group’s post-pandemic history.
Biden can beg OPEC for more oil, but they are out of any spare capacity that can be quickly added to global supplies. Saudi Arabia and UAE have some, but not enough to offset declines from other cartel members.
I cannot stress enough how important it is for America to get more diesel. Distillate inventories (mostly diesel) are 23% below the 5-year average. If we are forced to ration diesel, it will be a major blow to the U.S. economy. This country runs on diesel.
OPEC+ is out of spare capacity - May 13
OPEC+ is out of spare capacity - May 13
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: OPEC+ is out of spare capacity - May 13
Biden won't allow drilling in Alaska.
On one of the earnings calls (forgot which one) the ceo said Colorado was hanging them up on permits, so they more of less said screw it, and move the capx dollars somewhere else
The gov.of Michigam is trying to shut down a 70 year pipe that is bringing propane to upper Michigan
And the lame idiots want to blame everyone but themselves
On one of the earnings calls (forgot which one) the ceo said Colorado was hanging them up on permits, so they more of less said screw it, and move the capx dollars somewhere else
The gov.of Michigam is trying to shut down a 70 year pipe that is bringing propane to upper Michigan
And the lame idiots want to blame everyone but themselves