Friday, August 18, 2017

US Petroleum Demand: Highest In 10 Years -- Highest In A Decade -- Highest Since 2007 -- US Crude Oil Production? Highest In 45 Years -- NGL Production? Highest On Record -- Making America Great Again

As you read the note below, think about this: this is not being reported in the mainstream media. CNBC does not report it. I don't think FBN even reports it but I don't listen much to FBN -- even more political than CNBC and that says a lot. 

From Oil & Gas Journal, data points:
  • July data
  • total US petroleum deliveries: up almost 5% from a year ago
  • averaging: 20.7 million b/d
  • highest July deliveries in 10 years
  • increased 1.6% over previous month (June, 2017)
  • year-to-day: total petroleum deliveries up 1.3% compared to same period last year
Meanwhile, gasoline deliveries hit new records also (same link):
  • all-time high in July; not just a 10-year high, but an all-time high
  • increased 1% from July, 2016
  • average nearly 9.7 million b/d
  • 2016: 9.2 million b/d - the second highest year-to-date level
Domestic crude oil production? Yup, more records (same link):
  • in July, 2017, last month -- production increased from the prior month, the prior year, and the prior year-to-date to reach the highest July output level in 45 years
  • averaged 9.4 million b/d in July, 2017, up almost 10% -- astounding -- from July, 2016
  • US crude production has been above 9 million b/d for the sixth consecutive month 
NGLs? Glad you asked (same link):
  • highest July output level on record
Color me impressed. A huge shout-out to all the roughnecks and truck drivers that made this possible. Good on you.

What A Doofus

2 comments:

  1. VERY GOOD video from Wood MacKenzie that challenges the shale oil sceptics:

    --- When will tight oil make money? ---
    https://www.woodmac.com/analysis/when-will-tight-oil-make-money

    ReplyDelete
    Replies
    1. Nice presentation/analysis. I've posted highlights here:
      https://themilliondollarway.blogspot.com/2017/08/us-petroleum-demand-highest-in-10-years.html.

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