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Denbury Resources Inc. Message Board

  • harehau harehau Mar 5, 2013 11:22 PM Flag

    global oil

    Canada imports are 2.5mmb/d, less than a million from SA, amazing how much the world has changed in the past few years, oil and nat gas.

    The U.S. cut crude imports by 21 percent last year as domestic output surged, according to the Energy Information Administration. The state-owned Saudi company has the world’s largest proven reserves. The kingdom exported an average of 920,000 barrels a day to the U.S. in the four weeks ended Feb. 22, 38 percent less than the same period a year earlier, EIA data show.

    “We’re committed to the U.S. market,” Al-Falih said. “The outlook from our customers is that they will continue to require our crude for a long time to come.”

    The U.S. has narrowed Saudi Arabia’s lead in production this year to 1.9 million barrels a day, the slimmest margin since December 2002, according to data compiled by Bloomberg. The kingdom’s output declined to 9 million barrels a day in February, the lowest since May 2011, according to a Bloomberg survey of oil companies, producers and analysts showed

    The U.S. pumped 7.096 million barrels a day in the week ended Feb. 22, according to the EIA, a division of the Energy Department. America added 1.134 million barrels a day last year as improvements in horizontal drilling and hydraulic fracturing, or fracking, drove gains in oilfields such as the Eagle Ford in Texas and the
    Bakken in North Dakota.

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