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61 comments on Oilwatch Monthly February 2009

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Euan Mearns on February 16, 2009 - 5:08pm Permalink | Subthread | Comments top

Rembrandt - thank you very much once again.

Figure 20 is intriguing showing non-OPEC production hitting a peak - is that an all time peak? Does this include or exclude Indonesia? We could really do to hear from the mega projects guys on the reasons for this mini-spike - Thunderhorse?

And as OPEC cuts just about compensate for the non-OPEC rise, the oil market looks remarkably unconcerned about global turmoil - with the exception that they are not now making enough money to keep the party going.

Can you say if planned OPEC cuts are now fully implemented.

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westexasfanclub on February 17, 2009 - 1:48pm Permalink | Subthread | Parent | Comments top

Yes astounding! Non-OPEC production seems to have peaked as early as october 2004! After a 4 years effort to boost production under positive economcial conditions without reaching that level ever again, I suppose that was the all time peak.

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TexasSweet on February 17, 2009 - 6:26pm Permalink | Subthread | Parent | Comments top

Well Jeffery, You seem to have arrived ;-)

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westexasfanclub on February 17, 2009 - 7:17pm Permalink | Subthread | Parent | Comments top

Too much honour calling me Jeffrey, I must humbly reject that. ;-)

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westexas on February 18, 2009 - 8:34pm Permalink | Subthread | Parent | Comments top

I applied to join the fan club, but my application was rejected :(

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Rembrandt on February 19, 2009 - 8:33am Permalink | Subthread | Parent | Comments top

@Euan

OPEC crude oil production decline from October 2008 (month first cut was announced) to January 2009 was 2.25 million b/d. Total cuts announced were 1.5 mb/d in October and 2.45 mb/d in December. So we still will see at least another 1 mb/d cut showing up in February.

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61 comments on Oilwatch Monthly February 2009

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