Yangarra Resources Ltd T.YGR

USA Oil poruction

[kavern23]

Today they released USA monthly oil production which is more accurate than the weeklys.

13,012

13,236

So August is 13.012m per day and sept is 13.236


Just wild.  USA companies are doing the right thing, any time oil is over 75 the permain should always hum at 300 plus rigs.

USA drilling should actually pick up again as the more OPEC looks on its last legs with cuts, the more reason to drill right now and take advantage of oil prices espcially is the oil well can pay back in under 6 months.

Now is the time to drll oil wells. Once a well is paid off...the break even oil price down to 28 bucks alot of the time.

I expect increased USA rig counts.

[cfliesser]

Yes, but. US production is likely not going to grow much next year...  Depends on which projections...

[kavern23]

Probably need USA to go down in production...even flat at 13.2m will likely be too much in 2024. The economy outlook is not good.  Consumers were still spending very hard in 2023 in USA...and still too much oil in USA that exports are running hard. Going to be hard to avoid a dip under 70 WTI in 2024. This OPEC meeting was terrible as it is going too allow USA producers to hedge good for

[kavern23]

Guys like Eric Nuttall would lick the shoes of middle east leaders...getting embarassing. Anyone should put themselves in position of a ceo of a texas shale company....how can you not hammer the rigs right now while OPEC is rigging the prices. Make the money while you can...hedge...and let the fools sit and stare in 2024

[kavern23]

Any investment bank that had Q4 oil price targets of 100-120 dollars should fire people. Interest rates are goosed in every major economy...embarassing. They blantly fooled people and never changes.  Keep BS'in the uninformed public.