Tamarack Valley Energy Ltd T.TVE

Exxon Sees 15% Annual Production Drop

[geezer21]

Irina Slav via Oilprice.com, 28 Aug '24

According to the supermajor, global oil production is facing a natural decline at a rate of some 15% annually over the next 25 years. For context, the IEA sees the rate of natural decline at 8% annually. Exxon points out, however, that the faster decline rate is a result of the shift towards shale and other unconventional oil production, where depletion happens faster than it does in conventional formations.

https://oilprice.com/Energy/Energy-General/Exxon-Joins-OPEC-in-Warning-of-Looming-Oil-Supply-Crisis.html

[bows333]

This i

[bows333]

This is a very big deal. Don't get shaken out by daily price swings; the degree of leverage in the market, and especially leveraged derivatives contracts, magnifies price swings both up and down. Be patient. We are in a $70-90 trading range, but I am starting to see a former base at $70, and perhaps not quite as much resistance at $90, as had been present a year ago. This is a distillation of