GREY:TBTEF - Post by User
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8675309Jennyon Sep 30, 2015 4:14pm
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Post# 24150668
RE:RE:RE:US production falls 40,000 BOD, now at 9,096,000
RE:RE:RE:US production falls 40,000 BOD, now at 9,096,000
I agree with those comments looking backwards, but as both the CEO of Core Labs, Boone Pickens, and the geologist friends I have ..... the Saudi's are producing above their capalility... at 10.8m barrels a day. In other words, they are pulling so hard on some reservoirs, it leads to blocking in the permeations, and subsequent higher declines. They cannot maintain what they are doing .... however my geologist bud also says .... so far they have been able to. But I would give the Core Labs CEO the most weight. Additionally, with a natural decline of 6%, someone has to replace 5m barrels a day, + the increased demand. A BNN analyst noted that all 53 non opec producers have production falling. All of them!!! That's why boone pickens says the Iran oil is needed just to replace the losses