RE:RE:RE:RE:RE:NR Thoughts.Oil and gas is such a massive part of Russia's economy...
Not like Venzuala or Iran when it comes to being self sufficent......
Russia can produce their own steel for drill pipe....
Russia owns one of the largest ship tanker fleets in the world...
Oil can go up 10 bucks or down 10 bucks per week during the war.
Like always USA is the big winner and the rest of the world loses.
Before Covid USA build up 2 million barrels of excess pipleine capacity in Permain basin...pipes are already there...USA was planning to go from 13m a day to 15m in future.
Moemoney42 wrote: With repect to an earlier post re: Russian production still up on the last reports, don't forget all any company (and in this case Russia) has to do is increase the SPM/RPM (stokes per minute/revolutions per minute) on existing wells to get immediate production increases.. but this will eventually deplete the reserves and shorten the wells production profile going forward.. there usually is a sweet spot in every well regarding pumping levels.. I'd say within 6 months or less we'll see those chickens come home to roost in Russia and the overall production in Russia to continue to decline for years, with the majors pulling out..! JMHO..