In the 1st Qtr 18, Reach production was avg 2500 bpd. In the 2nd Qtr 18, it was 2900 bpd . As at 1stJune 18, production is 3200 bpd. By year end , the production is expected to hit 5400 bpd. With the recent approval to drill more wells in the North Kariman area, the oil production will increased substantially
Brent could be breaching 90 by Christmas or New Year. With the increased power demand for celebrations-related production, winter energy requirements for heating in northern hemisphere etc.
U know why US inventory oil has a lot oil but price of crude oil wont fall ? Iran sanctions, many buyers shift to buy from USA, at the price they could earn a lot. I dont see why they want to drop the price ;) smart move usa
Putin Tells Trump to Blame Guy in the Mirror for High Oil Prices
Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices.
“President Trump considers that the price is high; he’s partly right, but let’s be honest,” Putin said at the Russian Energy Week conference in Moscow on Wednesday. “Donald, if you want to find the culprit for the rise in prices, you need to look in the mirror.”
The Russian leader pushed back against escalating criticism of OPEC and its allies, which Trump has blamed for Brent crude’s rise to a four-year high near $85 a barrel. Still, Putin said his country has already boosted output and has the capacity to add another 200,000 to 300,000 barrels to the market.
Current prices are “largely the result of the current U.S. administration -- these expectations of sanctions against Iran, the political problems in Venezuela,” Putin said. “Look at what’s happening in Libya. The state is destroyed. It’s the result of irresponsible policies which have a direct impact on the world economy.”
Saudi shud not be bowing to the tantrums, whims & fancies of Donald Trump. It is NOT going to get Saudi anywhere meaningful in the end. They shud just stick to cultivating their newly blooming alliance & cooperation with Russia.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Franklim1989
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Posted by Franklim1989 > 2018-10-03 15:14 | Report Abuse
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