3 ms·
I don’t think that you’re correct about US O&G revenue. The US produces 13M barrels of crude and condensate per day: https://www.eia.gov/todayinenergy/detail.p
by greggyb 2y ago
I don’t think that you’re correct about US O&G revenue.
The US produces 13M barrels of crude and condensate per day: https://www.eia.gov/todayinenergy/detail.php?id=61545 https://www.eia.gov/todayinenergy/detail.php?id=61545
The lowest recent spot price is $69.5: https://www.eia.gov/dnav/pet/PET_PRI_SPT_S1_D.htm https://www.eia.gov/dnav/pet/PET_PRI_SPT_S1_D.htm
This tells you that annual production of just crude oil is > $300B/yr. The US also has plenty of downstream processing after production (https://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm https://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm), which means that total annual revenue must be significantly greater than this.