Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Joined: Jan 14, 2008 Posts: 321 Location: The Yukon
Posted: Tue May 27, 2008 7:07 pm Post subject: Did OPEC Oil Supply Rise in may?
Quote:
OPEC Oil Supply Rising in May-Petrologistics
LONDON, May 21 (Reuters) - OPEC oil supply in May is expected to rise by 700,000 barrels per day (bpd), led by higher output from members including Nigeria and Saudi Arabia, an industry consultant said on Wednesday.
The increase comes during a month in which oil has soared to record highs and indicates OPEC is again pumping more than its supply limit after a strike in Nigeria lowered output and Saudi Arabia opted to pump more.
All 13 OPEC members are expected to pump 32.4 million bpd this month compared with a revised 31.7 million bpd in April, Conrad Gerber of tanker tracker Petrologistics, told Reuters.
For everything else there is the Capital One card that lands on your doormat every month. _________________ Volatility. When life isn't exciting enough.
Last edited by Twilight on Tue May 27, 2008 7:18 pm; edited 2 times in total
Posted: Tue May 27, 2008 7:13 pm Post subject: Re: OPEC Oil Supply Rising in may
FreddyH wrote:
Quote:
OPEC Oil Supply Rising in May-Petrologistics
LONDON, May 21 (Reuters) - OPEC oil supply in May is expected to rise by 700,000 barrels per day (bpd), led by higher output from members including Nigeria and Saudi Arabia, an industry consultant said on Wednesday.
The increase comes during a month in which oil has soared to record highs and indicates OPEC is again pumping more than its supply limit after a strike in Nigeria lowered output and Saudi Arabia opted to pump more.
All 13 OPEC members are expected to pump 32.4 million bpd this month compared with a revised 31.7 million bpd in April, Conrad Gerber of tanker tracker Petrologistics, told Reuters.
Wait a minute. Doesn't Petrologistics track real, in-the-water, actual tankers? How does he know before they ship? _________________ ree rah rip ram. sunofabitch godamn. hidey didey christ almighty. rah rah crap
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Tue May 27, 2008 7:19 pm Post subject: Re: OPEC Oil Supply Rising in may
pstarr wrote:
FreddyH wrote:
Quote:
OPEC Oil Supply Rising in May-Petrologistics
LONDON, May 21 (Reuters) - OPEC oil supply in May is expected to rise by 700,000 barrels per day (bpd), led by higher output from members including Nigeria and Saudi Arabia, an industry consultant said on Wednesday.
The increase comes during a month in which oil has soared to record highs and indicates OPEC is again pumping more than its supply limit after a strike in Nigeria lowered output and Saudi Arabia opted to pump more.
All 13 OPEC members are expected to pump 32.4 million bpd this month compared with a revised 31.7 million bpd in April, Conrad Gerber of tanker tracker Petrologistics, told Reuters.
Wait a minute. Doesn't Petrologistics track real, in-the-water, actual tankers? How does he know before they ship?
They also have some knowledge of ship bookings and ships moving to oil exporters.
Still in the end it's just an estimate.
BTW - Petrologistics saw a decline in Aoril, so the gain in May roughly balances out the loss in April.
If you didn't read a similar thread I started a few weeks back, the extra May supply is not coming to the US.
DJ UPDATE:OPEC Mar Output Seen +0.1M B/D On Iran - Petrologistics
LONDON, Mar 28, 2008 (Dow Jones Commodities News via Comtex) -- (Adds details and analyst comments)
The Organization of Petroleum Exporting Countries is expected to pump around 100,000 barrels a day more in March than in February on increased production from Iran, tanker tracker Petrologistics said Friday.
Output from all 13 OPEC members is expected to average 32.9 million barrels a day, up from 32.8 million barrels a day last month, Geneva-based Petrologistics said in its preliminary forecast.
Posted: Tue May 27, 2008 7:40 pm Post subject: Re: OPEC Oil Supply Rising in may
And less than February's. So after some month-to-month fluctuations, America's pleas for OPEC production increases through the year have so far resulted in no net increase, in fact possibly a slight decline, and shipments routed to the Far East? Interesting.
I have to say, smooth edit there Freddy, didn't even leave a timestamp. _________________ Volatility. When life isn't exciting enough.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Tue May 27, 2008 7:53 pm Post subject: Re: OPEC Oil Supply Rising in may
Twilight wrote:
And less than February's. So after some month-to-month fluctuations, America's pleas for OPEC production increases through the year have so far resulted in no net increase, in fact possibly a slight decline, and shipments routed to the Far East? Interesting.
I have to say, smooth edit there Freddy, didn't even leave a timestamp.
This is what we get after months of GWB begging at the feet of Mideast shieks - even less.
Now China says it will suck up continuously greater quantities of oil.
There is no doubt now that the US will import less oil in 2008 than in 2007.
Quote:
Sinopec to increase oil import, Su Shulin
(www.chinamining.org)
Updated: 2008-05-27 11:20
Counter:6
China's oil giant Sinopec will continuously increase the import of refined oil to prevent shortage of diesel oil and gasoline this summer, said Su Shulin, president of Sinopec.
Su revealed that although the shortage of refined oil supply appeared again recently, Sinopec would ensure domestic oil supply and increase product oil import this summer.
Sinopec is enduring great pressure under the present situation that the crude oil price is unreasonable and refined oil price is undervalued, but it will restore its profitability as long as the price returns to be rational, said Su.
Joined: Jan 14, 2008 Posts: 321 Location: The Yukon
Posted: Tue May 27, 2008 10:27 pm Post subject: Re: OPEC Oil Supply Rising in may
DantesPeak wrote:
Thanks for giving us the straight talk on PO - FreddyH!
Have you finally seem the light?
Selective memory, DP? Everyone has known since August that 2008Q2 was going to have 1.5-mbd seasonal softness. I reminded u in February. I told u that Q3 would set new global & saudi records.
It's starting, DP... _________________ www.TrendLines.ca/scenarios.htm Home of the Real Peak Date ... set by geologists (not pundits)
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Tue May 27, 2008 10:41 pm Post subject: Re: OPEC Oil Supply Rising in may
FreddyH wrote:
DantesPeak wrote:
Thanks for giving us the straight talk on PO - FreddyH!
Have you finally seem the light?
Selective memory, DP? Everyone has known since August that 2008Q2 was going to have 1.5-mbd seasonal softness. I reminded u in February. I told u that Q3 would set new global & saudi records.
It's starting, DP...
Links???
No, that's not what you said. On March 8, in a similar thread to this one, you said that the oil supply would be increasing soon in the second quarter. Clearly you were quite wrong. I can also find other similar examples. You also predcited a price collapse then. Not only has the price not collapsed, but it has gone up substanially.
Quote:
Their preoccupation at this time is with the delicate balance of supply and demand and the realization that the 1-mbd of new flow over the coming weeks will likely bring the surplus to the same 1.6-mbd magnitude that brought about the 2006/2007 price collapse.
Joined: Mar 26, 2008 Posts: 1407 Location: Seattle
Posted: Tue May 27, 2008 11:26 pm Post subject: Re: OPEC Oil Supply Rising in may
DantesPeak wrote:
On March 8, in a similar thread to this one, you said that the oil supply would be increasing soon in the second quarter. Clearly you were quite wrong.
How can he be wrong already if we're only 2/3 the way through the 2nd quarter? _________________ Abundance - what a concept!
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ree rah rip ram. sunofabitch godamn. hidey didey christ almighty. rah rah crap 
