| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
The USA Probably passed Saudi Arabia as the Number One Total Oil liquids Producing Country in the first week of December 2012
From
In Saudi Arabia's own direct communication to OPEC, the kingdom said November production was lower, at 9.49 million. The November Saudi amount was 550,000 barrels per day less than in August.
Therefore, Saudi Arabia appears to have cut back its oil production to 11.2 million barrels per day in the last week of November (in order to support a higher price for oil because of higher USA and Iraq production increases). The US increased oil (crude oil, natural gas liquids, ethanol and other liquids and refinery processing gains) production to pass Saudi Arabia in the first week of December (to 11.33 million bpd). The USA added 660,000 barrels per day since August.
11.33 million bpd for the USA and 11.2 million bpd for the Saudi Arabia swing producer. The the USA became the number one oil (all liquids) producing nation in the first week of December. Based on simple math and what Saudi Arabia announced and what the USA reported via the Energy Information Administration.
Total Oil supply for the US for the days in the Week ending Dec 7 was 11.33 million barrels
See more and subscribe to NextBigFuture at 2012-12-14 23:42:42 Source: http://nextbigfuture.com/2012/12/the-us-probably-passed-saudi-arabia-for.html
Source:
