RE:RE:So these Yahoos were wrong againAlso they don't talk about Venezuela which is gradually coming online again. Chevron just announced that they have begun mobilizing 4 latest generation, high tech drilling rigs to drill 17 ultradeep wells in order to boost production by 90,000 bbl/day by EOY 2025.
Eni, Repsol, Total, Reliance of India, CNOOC of China etc all have projects in the works. Smaller operators like New Stratus Energy of Canada have already started operations looking to produce 40,000 bbl/day if memory serves.
Maybe keep an eye on Venezuela as well. The world wants cheaper oil in order to keep inflation in check. Venezuela could easily replace Saudi Arabia as the global swing profucer. At the very least Venezuela could be a great hedge against supply disruptions from the middle east.