Krasnov Fucked Up

[marble falls]

3. Kraznov does not want cheap oil, and if he did, the US petrolum companies do not want cheap oil ....

When oil is cheap, they buy foreign oil, when it's expensive they sell US oil. The BIG money is in refinement, not production. a good thing if you own the largest reserves, and produce more oil than anybody else by a huge margin and refineries out the ying yang.

Prices go up with "instability" and speculators who concentrate on "crisis" futures investment.

https://www.forbes.com/sites/rrapier/2024/07/05/us-oil-production-extends-massive-lead-over-russia-and-saudi-arabia/

U.S. Oil Production Extends Massive Lead Over Russia And Saudi Arabia

ByRobert Rapier,

Senior Contributor.
Robert Rapier is a chemical engineer covering the energy sector.
Jul 05, 2024, 04:03pm EDTJul 06, 2024, 01:44pm EDT


https://www.eia.gov/todayinenergy/detail.php?id=61545

In-brief analysis
March 11, 2024
United States produces more crude oil than any country, ever

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The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of 12.3 million b/d, set in 2019. Average monthly U.S. crude oil production established a monthly record high in December 2023 at more than 13.3 million b/d.

The crude oil production record in the United States in 2023 is unlikely to be broken in any other country in the near term because no other country has reached production capacity of 13.0 million b/d. Saudi Arabia’s state-owned Saudi Aramco recently scrapped plans to increase production capacity to 13.0 million b/d by 2027.

Together, the United States, Russia, and Saudi Arabia accounted for 40% (32.8 million b/d) of global oil production in 2023. These three countries have produced more oil than any others since 1971 (counting production in the Russian Federation of the Soviet Union prior to 1991), although the top spot has shifted among them over the past five decades. By comparison, the next three largest producing countries—Canada, Iraq, and China—combined produced 13.1 million b/d in 2023, only slightly more than what was produced in the United States alone.


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