BLA + 1,666 BB November 14, 2020 (edited) . Edited November 18, 2020 by BLA 3 Quote Share this post Link to post Share on other sites
Rob Kramer + 696 R November 14, 2020 (edited) . Edited November 14, 2020 by Rob Kramer Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 14, 2020 10 minutes ago, BLA said: Read Saudi Arabia's quarterly earnings report. In the 3Q they produced 12.3 mm bbls/day BOE. THAT'S (BOE) BARRELS OF EQUIVALENT. They reported 9.2 mm bbls/day of oil. A difference of 3.1mm bbls/day. What many don't understand about 1 1/2 years ago OPEC changed the definition of oil production to exclude light oil Condensate to allow Russia to say they are in compliance. The rest of OPEC including ARAMCO joined in. Additionally, there is no monitoring or definition of what qualifies as condensate. In other words it an honor system (funny . . an OPEC honor system) leaving it up to the producers to determine what volume of their production is "condensate". The only production real production cuts happen when their storage capacity is full. Yeah right, is right. Quote Share this post Link to post Share on other sites
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