>Inventories depleting fast
US crude oil inventories post sharp fall
aa.com.tr
>Imports drying up
Saudi Arabia Turns Off America’s Oil Taps Again
washingtonpost.com
>Domestic production plummeting
Oil drilling drops to 15-year low, shale in full retreat
businesstimes.com.sg
So once the reserves run out the US is fucked, right?
Other urls found in this thread:
en.wikipedia.org
en.wikipedia.org
twitter.com
The reserves will be enough for us to get the wells that were unprofitable at these absurdly low prices back online. We'll make it.
The only reason oil hasn't run out yet is demand fell off a cliff (pic related).
But when demand ramps back up, there's only enough in reserve for one month of pre-covid consumption, and that's it.
Yep, looks like XOM boomerfolio is back
Here's the reserves. And here's the consumption .
You tell me, is less than a month's reserves enough time to get the rigs back into full swing?
How do I profit from this?
By buying an electric car or a bicycle.
Oil production hasn't completely stopped you nonce. One month is the amount of time we can last with literally no oil production at pre-covid consumption.
This is bigger than just some stock play.
Not like it hasn't happened before:
en.wikipedia.org
en.wikipedia.org
So I should buy USO calls?