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[tyler durden1] 16/9/2019 09:27

Trump claims he can easily cover the 5mmbls a day from the SPR. NOT TRUE.

The SPR top limitation is 4.4mmbls daily and that would require oil being drawn from all of the different SPR locations at the same time.

If you look into the history of the SPR figures do not add up.

Also you will note that much of the oil is by exchange. Marathon had oil pumped from the SPR in 2012.

You will not see audited purchase figures of oil and it is likely the oil in the SPR has been depleted by bolstering US production.

Its a bit like the US figures on the gold it holds....very very dubious.

A very big problem for the US now is shale is not easily refined, its too explosive, as the multiple train explosions show. Its not safe to transport by sea compared with other crude, but the US has to have heavier imported oil to use shale at all.

Bounty: Claims about how much oil in the SPR should be treated with a pinch of salt. its like the claims of how much physical gold and silver are held...HIGHLY UNRELIABLE.

In 2018 the U.S. still imported 9.93mmbls a day. Irony because the EIA figures showed just under 8mmbls, but they are always guesstimates with a strategy in mind. Later when damage is done they are often recalculated.

Currently U.S. even with EIA dodgy figures still importing just under 8mmbls a day. and it won't just be the U.S.vying for the missing 5mmbls from Saudi.

If oil was that plentiful there would be no problems with Venezuela and other oil rich countries. The reason they are targets is one word....OIL

No coincidence that oil drawdowns have been occurring in the US for some weeks, even though these figures are highly 'managed'

[bountyhunter] 16/9/2019 09:24

How much oil is actually available in the SPR?

[tyler durden1] 16/9/2019 09:13

Don't get fooled by the story about the SPR...fake news.

Everyone in the US shale industry knows the SPR was deliberately built to be bidirectional, so it can pump oil to and from the oil fields.

Why do you think this was done?

Over the past 3 years US oil production has been surreptitiously bolstered by claiming extra production that was via the SPR.

This is a great opportunity for the US to explain the loss of oil in the SPR by claiming they have used it to bolster supplies now...but its already been used, pumped to the wellheads claimed as extra U.S. production leaving a black hole to account for in the SPR figures....that black hole can now be plugged by this fortuitous event for the US.

[bountyhunter] 16/9/2019 09:05

Trump Authorizes SPR Oil Release After Saudi Supply Disruption

[bountyhunter] 16/9/2019 09:03

At least it's moving in the right direction lol!

SPR authorised for offsetting Saudi reduction.

[boatman123] 16/9/2019 07:50

I'm betting your gonna be disappointed

[paradores] 16/9/2019 07:34

I’d expect 19-20p

Part of the reason Colombia is now on the hot list. Now a relatively safe haven.

[notimpressed] 16/9/2019 07:15

lucy, amer will probably open down

[fatgreek] 16/9/2019 07:13

Oil up over ten percent

[lucyp00p] 16/9/2019 01:20

Oil's flying.

[quidnunc] 15/9/2019 21:05

Perhaps he'll now re evaluate his views on Amerisurs asset and global position situation in the light of this development. If indeed they are one and the same person. Q

[thegreatgeraldo] 15/9/2019 16:33

Probaly missing something obvious, but not sure how losing Xmmbblsd of exports & facing a multi-billion dollar repair bill helps the Aramco IPO

[westmoreland lad] 15/9/2019 16:23

Written by our very own Tyler Durden >>>---need a hair cut m8------------>

[thegreatgeraldo] 15/9/2019 16:17

Not seen much (any?) discussion on how they managed to get some pretty large drones into the targets...... I'd imagine the attacks were carried out from locations within a few miles

(large drones as they were presumably carrying quite large payloads)

[bountyhunter] 15/9/2019 16:08

They will no doubt now have to improve security wrt drones, probably with US help?

[yasrub] 15/9/2019 16:06

I think what could spook the market is how on the face of it the drone attack has been so effective and going forward to risk/security of these fields.

[bountyhunter] 15/9/2019 15:29

Saudi attacks: Oil price to spike as production halves

[charlieeee] 14/9/2019 23:11

Well, MBS was planning to curtail production to increase prices, so it has just happened a little more abruptly than expect... a fine example of being careful of what one wishes for!

Hopefully, the report of no casualties proves to be correct.

[yasrub] 14/9/2019 18:47

The Saudi attack is more significant than I first thought from the initial reports - a drop of 5 million barrels a day is severe.

[tommygriff] 14/9/2019 18:39

This co needs another before a sale

[moneylender] 14/9/2019 16:12

Oil will go higher after the attacks in Saudi


$100 by Xmas!