Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Posted: Tue Aug 29, 2006 12:02 pm Post subject: UAE oil production hits record high
The UAE's oil production hit a record high in May and Russia overtook Saudi Arabia as the world's top crude producer, according to a report.
The UAE's oil output hit 2.651-million bpd in May, keeping the country among the top 10 producers, according to figures released by the Riyadh-based Joint Oil Initiative Data.
Russia became the world's top producer, pumping 9.636-million bpd in May. Saudi Arabia's output stood at 8.93-million bpd, sharply lower than the 9.432-million bpd it produced in the same month last year, said the report.
"The UAE's crude output that comes largely from Abu Dhabi is currently around 2.6 to 2.7-million bpd and plans are on tap to raise it to 4-million bpd by 2010. In fact, we would see a gradual increase in the UAE's output in the next four years," an Abu Dhabi-based oil expert was quoted as saying by Gulf News.
Posted: Tue Aug 29, 2006 5:55 pm Post subject: Re: UAE oil production hits record high
Torjus wrote:
Is it realistically possible for them to raise production this much? I can't say I know an awful lot about the Emirates.
Torjus Gaaren
The 4.0 mpd is probably boe, in other words not just oil, but condesates, NGL, NG, etc. They have massive reserves of NG fields, much larger than their oil, I believe (5th largest in the world). _________________ I want to put out the fires of Hell, and burn down the rewards of Paradise. They block the way to God. I do not want to worship from fear of punishment or for the promise of reward, but simply for the love of God. - Rabia
Posted: Tue Aug 29, 2006 5:56 pm Post subject: Re: UAE oil production hits record high
So no surprised reactions noting that SA is down to less than 9 mpd?!?! They were at 9.5, then 9.1 because they had "no buyers (for heavy crude)", but now a bit more than 8.9 mpd. What's going on...? _________________ I want to put out the fires of Hell, and burn down the rewards of Paradise. They block the way to God. I do not want to worship from fear of punishment or for the promise of reward, but simply for the love of God. - Rabia
Posted: Sun Sep 10, 2006 9:35 am Post subject: Re: UAE oil production hits record high
bears watching to see how long they can keep it up. I dont know, I see reports that supplies are increasing here but decreasing over there. Has anyone charted the actual production changes and come up with a net gain or loss over 6 months - 1 year- 5 years?
That would be interesting to see just wether were treading water or making headway against the current or actually losing the battle to keep our head above water.
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