Re: Peak Permian means Global Peak Oil will happen in 2020
Posted: Wed 11 Jul 2018, 18:49:10
OPEC predicts global oil demand will rise to over 100 million bbls per day in 2019.
opecs-oil-output-jumps-in-june-as-saudi-arabia-opens-the-taps
OPEC's oil production is already being raised to meet 2018 demand, as KSA tries to reach a new all time high in oil production in response to rising global oil prices and Trump's resultant demand that they pump more.
But that raises a question...if KSA and OPEC are already maxing themselves out to meet the increases in 2018 demand, where will the extra oil come from to meet the rising demand in 2019?
Easy, says, OPEC.. The countries outside OPEC will all increase their production in 2019 by 2.1 million bbls/day. And that means the US, because thats where oil production is increasing. And that means the Permian basin because thats the only place in the US where oil production is rapidly rising.
Can the Permian basin oil production go up another ca. 2 million bbls day in 2019?
And how about in 2020? How much more can Permain basin oil production go up? Inquiring minds want to know.....
CHEERS!
opecs-oil-output-jumps-in-june-as-saudi-arabia-opens-the-taps
OPEC's oil production is already being raised to meet 2018 demand, as KSA tries to reach a new all time high in oil production in response to rising global oil prices and Trump's resultant demand that they pump more.
But that raises a question...if KSA and OPEC are already maxing themselves out to meet the increases in 2018 demand, where will the extra oil come from to meet the rising demand in 2019?
Easy, says, OPEC.. The countries outside OPEC will all increase their production in 2019 by 2.1 million bbls/day. And that means the US, because thats where oil production is increasing. And that means the Permian basin because thats the only place in the US where oil production is rapidly rising.
Can the Permian basin oil production go up another ca. 2 million bbls day in 2019?
And how about in 2020? How much more can Permain basin oil production go up? Inquiring minds want to know.....
CHEERS!