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Keyword: production

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  • Atlanta Fed estimates U.S. third-quarter GDP growing at 4.0 percent (MAGA! Winning!)

    08/17/2017 6:54:15 PM PDT · by 2ndDivisionVet · 12 replies
    Reuters ^ | August 3, 2017 | Richard Leong
    The U.S. economy is on track to expand at a 4.0 percent annualized pace in the third quarter with inventory investment contributing 1.12 percentage points to growth, the Atlanta Federal Reserve's GDP Now forecast model showed on Thursday. Last Friday, the government said its first reading on the gross domestic product in the second quarter was a 2.6 percent growth pace, which was 0.2 point below Atlanta Fed's final estimate.
  • US factory production rose for 6th straight time in February

    03/17/2017 7:43:09 AM PDT · by Olog-hai · 3 replies
    Associated Press ^ | Mar 17, 2017 9:34 AM EDT | Christopher S. Rugaber
    U.S. factories cranked out more autos, steel and computers in February, the sixth straight monthly increase in manufacturing output. Factory production rose a seasonally adjusted 0.5 percent last month from January, the Federal Reserve said Friday. That followed another 0.5 percent gain the previous month. Factories are benefiting from greater consumer and business optimism since last fall’s presidential election. Companies are spending more on big-ticket items such as industrial machinery, and Americans are buying cars at near-record levels. Overseas growth has spurred more exports. Mining output rose 2.7 percent in February, spurred partly by more oil and gas drilling. Utility...
  • Ford Says It's Moving All of Its U.S. Small Car Production to Mexico

    09/14/2016 3:29:17 PM PDT · by Nachum · 93 replies
    CNS News ^ | 9/14/16 | AP
    DETROIT (AP) — Ford Motor Co. says it's moving all of its U.S. small car production to Mexico. Ford CEO Mark Fields confirmed the long-expected move Wednesday during an event for investors and Wall Street analysts. Ford currently makes its Fiesta subcompact in Mexico, but its Focus and C-Max small cars are made in suburban Detroit. Making them in Mexico would boost company profits because of low wages there.
  • Forget The Glut – This Is Why Oil Prices Will Rise

    07/26/2016 9:29:43 AM PDT · by bananaman22 · 18 replies ^ | 26-07-2016 | Steffens
    U.S. oil production peaked at over 9.6 million barrels per day in June, 2015: Based on Core Labs' prediction above, U.S. oil production will fall to under 8.3 million barrels per day before the end of this year and will continue fall to under 7.5 million barrels per day sometime in 2017 before it stabilizes. The only thing that will stop U.S. oil production from falling is a sharp increase in oil prices. In my opinion, West Texas Intermediate (WTI) must move firmly over $60/bbl before we will see the increase in capital expenditures necessary to stabilize U.S. oil production....
  • As Oil Rises, US Shale Companies Have Begun Increasing Oil Production

    04/28/2016 1:28:29 PM PDT · by Nachum · 11 replies
    Zero Hedge ^ | 4/28/16 | tyler durden
    Three days ago, Pioneer surprised oil market watchers when it not only said that it has already produced more oil than it had initially forecast, but that once crude returns to $50, all systems are go. This is what it said in its Q1 press release: producing 222 thousand barrels oil equivalent per day (MBOEPD), of which 55% was oil; production grew by 7 MBOEPD, or 3%, compared to the fourth quarter of 2015, and was significantly above Pioneer’s first quarter production guidance range of 211 MBOEPD to 216 MBOEPD; oil production grew 10 thousand barrels oil per day during...
  • US industrial production fell 0.6% in March vs. 0.1% drop expected

    04/15/2016 6:42:21 AM PDT · by mykroar · 18 replies ^ | 4/15/2016 | Reuters
    U.S. industrial production fell more than expected in March as output declined broadly, the latest indication that economic growth braked sharply in the first quarter. Industrial output decreased 0.6 percent last month after a downwardly revised 0.6 percent drop in February, the Federal Reserve said on Friday. Industrial production has declined in six of the last seven months. Economists polled by Reuters had forecast industrial production slipping 0.1 percent last month after a previously reported 0.5 percent drop in February. Industrial production fell at an annual rate of 2.2 percent in the first quarter. The report joined data on retail...
  • Cruz Plan: VATs Help Trade but Invite Corruption [aw!m vanity]

    04/04/2016 6:38:51 AM PDT · by Arthur Wildfire! March · 15 replies
    Cruz addresses a major reason for our trade deficit. However ... If something confuses people? It invites corruption. A handy rule of thumb in government. Are VATs confusing? Very. ~~~ Even explaining a VAT* is tough because there are many different kinds. Some alleged VATs aren't even VATs according to many. But I'll break it down into two categories: 1. A good VAT. 2. A bad VAT. ~~~ A Good VAT Senator Cruz proposes 'turning the tables' on Europe and other nations which are sneaking money back to corporations which give them jobs. In the nutshell, a good 'VAT' is...
  • What Happens When Oil Hits $50?

    03/21/2016 1:00:25 PM PDT · by bananaman22 · 11 replies ^ | 21-03-2016 | hoeren
    The major beneficiary of the 54 percent jump in oil prices from the lows of $26 per barrel is the U.S. shale oil industry, which will utilize this rise to ramp up production and repair balance sheets. But any move above $45 per barrel will likely reverse all this good luck: The drop in production will halt and more will be added to the supply glut. It’s a bit of a double-edged sword.
  • Why U.S. Shale Is Not Capitulating Yet

    02/04/2016 3:39:20 PM PST · by bananaman22 · 16 replies ^ | 04-02-2016 | zero
    According to a report by the Bloomberg Intelligence analysts William Foiles and Andrew Cosgrove, Saudi Arabia may have its work cut out for it as it will be far harder to kill many U.S. E&Ps than analysts originally thought. The reason: a break-even model for the Permian Basin and Eagle Ford shows that oil production across five plays in Texas and New Mexico may remain profitable even when WTI prices fall below $30 a barrel, according to a 55-variable Bloomberg Intelligence model for horizontal oil wells. The Eagle Ford's DeWitt County has the lowest break-even, at $22.52, followed by Reeves...
  • Will OPEC Be Forced To Call An Emergency Meeting Soon?

    01/20/2016 10:31:57 AM PST · by bananaman22 · 29 replies ^ | 20/01/2016 | obama no more
    Oil prices dropped to fresh lows during midday trading on January 20, with WTI dipping below $27 per barrel and Brent trading under $28. The crash in oil since December has only deepened the pain for oil-exporting countries, even for those within OPEC. Despite the cartel’s inability to agree on a production target at its meeting in early December, some of its members are clamoring for action. Venezuela recently requested an emergency meeting in a letter sent to the other 12 members of OPEC. That is not necessarily news since Venezuela did the same thing last year, but there are...
  • Four Oil Tanks Now on Fire at Libyan Ports after Clashes

    01/06/2016 8:56:55 PM PST · by fella · 4 replies
    Rig Zone ^ | 6 JAN 2016 | Ayman al-Warfalli
    BENGHAZI, Libya, Jan 6 (Reuters) – Fires caused by clashes between Islamic State militants and guards near Libya's biggest oil ports have spread to four oil storage tanks that were still burning on Wednesday, a guards spokesman said. Ali al-Hassi said the Petroleum Facilities Guards were in control of Es Sider and Ras Lanuf ports, but that skirmishes continued. At least nine guards were killed and more than 40 injured in fighting around the perimeter of the area on Monday and Tuesday. Hassi said guards had recovered bodies of 30 Islamic State fighters, and had also captured two military tanks...
  • BP’s CEO Finally Sees Oil Prices Bottoming Out

    01/05/2016 11:59:31 AM PST · by bananaman22 · 5 replies ^ | 05-01-2015 | dudley
    Since last summer, Bob Dudley, the CEO of the British oil giant BP, has been cautioning that he expects oil prices to stay “lower for longer.” Now he believes he’s determined how much longer those prices may decline, and when they may start rising again. “A low point could be in the first quarter [of 2016],” Dudley said in an interview broadcast Saturday by the BBC. “But 2016’s third and fourth quarters could witness a more natural balance between supply and demand, after which stock levels could start to wear off.”
  • OPEC Expects U.S. Oil Production To Rise In 2016… Really?

    12/29/2015 11:54:02 AM PST · by bananaman22 · 36 replies ^ | 29-12-2015 | Peak oil ping
    The OPEC 2015 World Oil Outlook came out a few days ago. They basically produce two outlooks, a medium term outlook to 2020 and a long term outlook to 2040. I found their medium term outlook pessimistic in some cases too optimistic in others. But I found their long term outlook to be wildly optimistic… in most cases. In all cases below I chart crude when it is available and “liquids” only when no other option is available. The data is in million barrels per day.
  • Can OPEC Strike A Deal On Cutting Production Tomorrow?

    12/03/2015 1:05:30 PM PST · by bananaman22 · 9 replies ^ | 03-12-2015 | OPEC meeting
    OPEC is set to convene its twice-a-year meeting in Vienna, and a growing number of the group’s members are clamoring for production cuts in order to boost oil prices. The problem is a collective one. Sure, everyone agrees production should be cut, but each member wants someone else to shoulder the burden. That results in no decision. The only member whose voice really counts is Saudi Arabia. Interestingly, the de facto leader of OPEC is starting to change its tone, a sign that the desperation from some OPEC countries – along with the financial pain that Saudi Arabia itself has...
  • Future Of Iraq’s Oil Industry Under Threat

    10/22/2015 9:32:08 AM PDT · by bananaman22 · 1 replies ^ | 22-10-2015 | Ibrahim
    Iraq is one of the major reasons why OPEC has been able to increase oil production over the past year, even as oil prices have dropped to six-year lows. The war-torn country averaged 3.2 million barrels per day (mb/d) of production in 2014. But despite the onslaught from ISIS and the collapse in oil prices, Iraq succeeded in achieving steady gains in output, surpassing 4.1 mbd in September. Along with Saudi Arabia’s increase of around 600,000 barrels per day since 2014, Iraq has accounted for a majority of OPEC’s production gains over the past year, allowing the cartel to produce...
  • Chinese Company Replaces Humans With Robots, Production Skyrockets, Mistakes Disappear

    08/01/2015 8:00:38 PM PDT · by SeekAndFind · 64 replies
    Zero Hedge ^ | 08/01/2015 | Tyler Durden
    "I believe that anyone who has a job and works full time, they should be able to pay the things that sustain life: food, shelter and clothing. I can't even do that."That rather depressing quote is from 61-year old Rebecca Cornick. She’s a grandmother and a 9-year Wendy’s veteran who spoke to CBS News. Rebecca makes $9 an hour and her plight is representative of fast food workers across the country who are campaigning for higher pay. The fast food worker pay debate is part of a larger discussion as "states and cities across the country [wrestle] with the idea of...
  • Why We Should Get Used To Low Oil Prices

    07/13/2015 11:03:11 AM PDT · by bananaman22 · 34 replies ^ | 13-07-2015 | ABM
    The news from the IEA is not good. “World oil demand growth appears to have peaked in 1Q15 at 1.8 mb/d and will continue to ease throughout the rest of this year and into next as temporary support fades.” I don’t have great faith in forecasts but the data shows declining demand growth from late 2010 to the 2nd quarter of this year The weak global economy is the cause of low demand growth. The current debt crisis Greece and collapsing stock markets in China are the latest alarm signals.
  • Forget the Noise: Oil Prices Won’t Crash Again

    06/03/2015 7:54:30 AM PDT · by bananaman22 · 6 replies ^ | 06-03-2015 | Dan Doyle
    Oil rising to $60/bbl is displeasing some people, particularly the shorts. Some of the more extreme –those calling for oil in the $20’s – have wisely fallen silent. Others, like Goldman Sachs, who a few months ago had set their flag in the 30’s, have unfortunately not gone so silent. They recently moved their flag into the 40’s but they continue to talk a lot. A better strategy – though one that would require some humility — would be to stop talking and listen. Recent and compounding data will soon wash away the walls of worry erected by the experts....
  • Physicists find ways to increase antihydrogen production

    05/21/2015 12:33:22 AM PDT · by LibWhacker · 13 replies
    PhysOrg ^ | 5/20/15 | Lisa Zyga
    Physicists find ways to increase antihydrogen production 18 hours ago by Lisa Zyga feature Antihydrogen consists of an antiproton and a positron. Credit: public domain (—There are many experiments that physicists would like to perform on antimatter, from studying its properties with spectroscopic measurements to testing how it interacts with gravity. But in order to perform these experiments, scientists first need some antimatter. Of course, they won't be finding any in nature (due to antimatter's tendency to annihilate in a burst of energy when it comes in contact with ordinary matter), and creating it in the lab has proven to...
  • U.S. Could Go All Out On Offshore Exploration

    05/14/2015 12:06:16 PM PDT · by bananaman22 · 3 replies ^ | 14-05-2015 | Drillbit
    For project developers seeking the next big petro-play, some key news this week. With lawmakers in America moving to open one of the biggest swaths of new acreage in the history of the industry. On Tuesday, the U.S. senate introduced three bills to expand areas accessible for oil and gas drilling -- targeting the eastern Gulf of Mexico, Atlantic Ocean, and the Arctic. The Gulf of Mexico acreage would be the nearest play at hand. With this week's bill contemplating allowing drilling in this area as early as 2017.