oil peakers deader than dead as US production soars

[cheka.]

another bullet in the peaker corpse -- natgas production record

https://seekingalpha.com/article/419...ssure-building

Lower 48 Natural Gas Production Hits All-Time High - Bearish Pressure Building

Aug. 14, 2018 8:28 PM ET

================================================== ==============

still more...

https://oilprice.com/Energy/Crude-Oi...-Of-Crude.html

Gulf Coast Refineries Process Record Volume Of Crude

By Irina Slav - Aug 16, 2018, 9:30 AM CDT

Gulf Coast refineries processed a record-high amount of crude oil last week, at 9.649 million barrels daily, the Energy Information Administration said in its weekly petroleum status report. The national total was also very high, at 17.981 million bpd.

This summer has been very productive for U.S. refineries. The average capacity utilization rate at Gulf Coast refineries also hit a record, at 99.7 percent last week. What’s more, the four-week average crude oil throughput for all U.S. refineries passed the 18-million-bpd mark for the first time in history.

The data reflects strengthening demand for oil products both domestically and internationally, with an emphasis on gasoline and distillate, the EIA said, with domestic gasoline demand hitting an all-time high in early June and remaining robust through the next two months.

Exports of gasoline are also on the rise, with the figure for the second week of August at a daily average of 935,000 bpd, versus 670,000 bpd a year ago.

This year is seen as the second in a row when refineries will book record-high activity, which reflects the strengthening of the U.S. economy, with this driving season making a good case in point. There’s been a lot of driving this summer season, and that’s despite rising prices at the pump. These gained 31 percent between May 2017 and May 2018, but driving increased nevertheless, and it increased further during the summer months.

The increase in driving, according to a CNN report, was directly linked with the increase in refining activity in the past few months, which kept the supply of fuels robust and put a lid on prices at the pump. And refineries are refining more because their profit margin on gasoline, the most popular fuel, has improved substantially over the past 12 months. Margins on diesel have also risen, adding more incentive for refiners to go at full throttle and break records.

[Cebu_4_2]

Meanwhile gas and NG are almost all time highs for the working folks.

[Dogman]

Still say one thang l sumthing (dam tablet)
is going on , not seen yet?

Metal's took an dump, still not recovered, etc, etc. !

?

[cheka.]

Meanwhile gas and NG are almost all time highs for the working folks.

not even close. are you newbie?

[Dogman]

not even close. are you newbie?

LMFAO! thanks

[Cebu_4_2]

http://charts.gasbuddy.com/ch.gascha...nit=US+%24%2fG

[Horn]

Yeah, unfortunately domestic oil is still subject to taxes/tariff.

[keehah]

Yeah, unfortunately domestic oil is still subject to taxes/tariff.

And in some areas feminist leadership.

April 2018 Global News

Shock at the pump for some Metro Vancouver drivers, as gas prices broke an all-time record Sunday.
“The 1.619 represents the single largest price point ever paid at any gas station, or any regional gas station across North America in the history of fuel.”

Jan 2018 CBC News

North American oil prices are marching toward $65 US a barrel this month, giving the industry a boost after the market collapsed three years ago. The oil sector hasn't seen these prices since late 2014, but most companies in Alberta are receiving significantly less, just above $40 US a barrel.
The Alberta oilpatch continues to increase oil production, but as pipelines fill up, companies are receiving less money for their oil compared to the rest of the continent.

To be fair, one should not forget about the puppet neocons:

after the market collapsed three years ago

Forbes 2015: An Russian Crisis with no End in Sight Thanks To Low Oil Prices and Sanctions

570News 2015: Harper battles back as opposition leaders attack in first televised debate

“The objective in all of these things is to make sure we do maximum damage to Vladimir Putin and to the Russian economy while trying to minimize damages to our own,” Harper said.

[cheka.]

http://charts.gasbuddy.com/ch.gascha...nit=US+%24%2fG

short term chart that leaves out the highs?

[Neuro]

short term chart that leaves out the highs?

A bit like the hockey shtick charts of earth temperature, that starts after the medieval warm period. Gas prices were higher 7-8 years ago...