tag:blogger.com,1999:blog-5235419263414453422.post5194383510534469119..comments2024-02-23T01:30:06.101-08:00Comments on Early Warning: Latest Saudi Oil ProductionStuart Stanifordhttp://www.blogger.com/profile/07182839827506265860noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5235419263414453422.post-41527366713147982342012-09-21T16:45:59.382-07:002012-09-21T16:45:59.382-07:00Chatter on the web has it last US election season ...Chatter on the web has it last US election season the Saudi's did the same nes pas"e Brutto"https://www.blogger.com/profile/14926599399841605799noreply@blogger.comtag:blogger.com,1999:blog-5235419263414453422.post-9904466495395975562012-09-21T02:03:24.483-07:002012-09-21T02:03:24.483-07:00There is something on the transition website with ...There is something on the transition website with a link to an article by Bloombergs saying by 2030 Saudi may be a net importer since they are using oil to generate electricity and demand is soaring.<br /><br />http://www.theoillamp.co.uk/Neilhttps://www.blogger.com/profile/03410389012912773291noreply@blogger.comtag:blogger.com,1999:blog-5235419263414453422.post-23885547403356129792012-09-19T08:33:02.350-07:002012-09-19T08:33:02.350-07:00Check this chart out:
http://crudeoilpeak.info/wp...Check this chart out:<br /><br />http://crudeoilpeak.info/wp-content/uploads/2011/03/Saudi_Arabia_Crude_1980_2030_Husseini.jpg<br /><br />It shows Sadad Al-Huseini's estimation of where Saudi Arabia can go.<br /><br />It's important to note that he accepts the Saudi reserve estimate of 360 GB(instead of 260).<br /><br />I think the truth is probably higher than 260 but not much higher. After all, the same Al-Huseini stated that global reserves are overestimated by over 300 GB, which includes perfect the 100 GB from Saudi Arabia as part of that sum.<br /><br />Nonethless, it shows that Saudi won't get up much higher than 10.25 mb/d until after 2016.<br /><br />So they are doing flat out as of this moment.<br /><br />Saudi is maxed out. So is Russia.<br /><br />The increase in production must now come from American tight oil, Brazilian offshore, Canadian tar sands as well as Iraqi conventional.<br /><br />Three out of four of those areas have oil which have high decline rates and high production costs.<br /><br /><br />Iraq is the golden goose here, but we won't see more than double current production by 2020.<br /><br />The question, as always, is if the rest of the world aside from these four can cover their own decline rates. <br /><br />If they can, things will work out okay. If they can't, these additions will merely keep supply flat.Emilhttps://www.blogger.com/profile/14468005369763866961noreply@blogger.comtag:blogger.com,1999:blog-5235419263414453422.post-74586004614310152662012-09-19T08:22:06.533-07:002012-09-19T08:22:06.533-07:00I think this might be related to dropping Saudi co...I think this might be related to dropping Saudi consumption at the end of summer rather than to higher production. From today's <a href="http://www.theoildrum.com/node/9496#comments_top" rel="nofollow">Drumbeat</a> is an article <a href="http://news.yahoo.com/1-saudi-crude-burn-hits-records-june-july-104537542--business.html" rel="nofollow"><br />Saudi crude burn hits new records in June, July </a>Eric Hackerhttps://www.blogger.com/profile/03288021379443566141noreply@blogger.comtag:blogger.com,1999:blog-5235419263414453422.post-83527859560122048772012-09-19T08:21:19.458-07:002012-09-19T08:21:19.458-07:00I think this might be related to dropping Saudi co...I think this might be related to dropping Saudi consumption at the end of summer rather than to higher production. From today's <a href="http://www.theoildrum.com/node/9496#comments_top" rel="nofollow">Drumbeat</a> is an article <a href="http://news.yahoo.com/1-saudi-crude-burn-hits-records-june-july-104537542--business.html" rel="nofollow"><br />Saudi crude burn hits new records in June, July </a>Eric Hackerhttps://www.blogger.com/profile/03288021379443566141noreply@blogger.comtag:blogger.com,1999:blog-5235419263414453422.post-86319344242815108212012-09-19T07:50:02.523-07:002012-09-19T07:50:02.523-07:00Interesting to note that there seems to be a tight...Interesting to note that there seems to be a tightness on the market given the state of global economy.Kobayashihttps://www.blogger.com/profile/06746892185924478895noreply@blogger.comtag:blogger.com,1999:blog-5235419263414453422.post-68783715527228438972012-09-19T05:59:51.409-07:002012-09-19T05:59:51.409-07:00Plus you consider this elasticity considering the ...Plus you consider this elasticity considering the demand is constent right ?yvesThttps://www.blogger.com/profile/16431704289577407263noreply@blogger.com