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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (1389811)

2/3/2023 6:43:58 PM

From: Wharf Rat

Read Replies (1) | Respond to of 1583352

Yup. It's gonna be hard to slow us down. We've already passed 2 recession-type jobs programs, the infrastructure and climate/IRA bills, so there's plenty of stimulus. We're also short of workers, so employers will bid up wages.

Energy costs could slow us down. The world is producing less oil now than it did in '18.
OPEC crude output was revised lower in October 2022 by 12 kb/d compared to last month’s report and November 2022 OPEC crude output was revised higher by 53 kb/d. OPEC output has increased by 1088 kb/d since December 2021, from 27883 kb/d to 28971 kb/d in December 2022. When the World was at its centered twelve month average peak for C+C output in August 2018, OPEC crude output was 31237 kb/d (as shown on the chart), December 2022 OPEC crude output was 2266 kb/d below that level.

peakoilbarrel.com

U.S. October production increased by 69 kb/d to 12,381 kb/d to a New post pandemic high. For October, the state with the largest increase was New Mexico, 41 kb/d, along with a number of smaller increases from the other producing states.

The red graph is the EIA’s forecast for US oil production out to December 2024. Output reaches 13,154 kb/d and exceeds the pre-pandemic high of 13,000 kb/d. Note that there is essentially no production increase in the US from October 2022 to October 2023. Production begins to rise again in November 2023. The December drop is associated with extreme weather in North Dakota and possibly Texas and New Mexico.

peakoilbarrel.com