good news on the oil front...

1,902 Views | 14 Replies | Last: 9 hrs ago by MJ20/20
Logos Stick
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8:32a, 6/4/26
This is a very good thing given the Iran conflict. I read that something like 10 mbpd is heavy out of the Strait.

"... Iranian heavy sour and Venezuelan heavy sour are arguably each other's most direct competitors"

Quote:
BREAKING: Venezuela's crude oil exports have surged +61% YoY, to 1.25 million barrels per day, the highest in 7 years.

...

Venezuela's oil ministry is now targeting output of 1.37 million barrels per day by year-end, which would mark a +22% increase from 2025 levels and the highest since US sanctions were first imposed in 2019.



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ts5641
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8:34a, 6/4/26
Good news! **** Iran!
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WestAustinAg
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8:35a, 6/4/26
AG
good news indeed.

we also need Saudi Arabia to hurry and finish their pipelines that take oil away from the Strait of Hormuz and moves it to ports along their other coasts.
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No Spin Ag
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8:40a, 6/4/26
To gas prices dropping like a rock asap.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
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BusterAg
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8:43a, 6/4/26
AG
It's almost like the US intervention in Venezuela was planned out before the attack on Iran. That would be crazy, because it insinuates that the executive branch actually knows what it is doing when it comes to foreign policy.

That can't be true, can it?
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Sumlins Pool Guy
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8:44a, 6/4/26
Did Trump plan ahead ?
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Ag87H2O
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8:51a, 6/4/26
AG
The longer this Iran conflict goes on, the less and less influence Iran is going to be able to exert.

Just like when supply chains got modified and expanded during Covid, people and countries will figure out a way to get what they need. Eventually, the market creates alternatives. It just takes time.
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Stmichael
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In reply to BusterAg • 9:31a, 6/4/26
AG
BusterAg said:
It's almost like the US intervention in Venezuela was planned out before the attack on Iran. That would be crazy, because it insinuates that the executive branch actually knows what it is doing when it comes to foreign policy.

That can't be true, can it?


Having a plan is one thing. That plan actually working is another thing entirely. This part of the plan worked perfectly. The Iran end of things...not so much.
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B-1 83
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9:41a, 6/4/26
AG
Venezuelan heavy sour and Eagle Ford light sour are a match made in heaven for Texas refineries.
Being in TexAgs jail changes a man……..no, not really
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doubledog
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In reply to WestAustinAg • 10:05a, 6/4/26
WestAustinAg said:
good news indeed.

we also need Saudi Arabia to hurry and finish their pipelines that take oil away from the Strait of Hormuz and moves it to ports along their other coasts.

Saudi Arabia's main pipeline system is the East-West Crude Oil Pipeline, often referred to as the Petroline. This essential 746-mile (1,200 km) mega-project spans the Arabian Peninsula and facilitates the daily transportation of millions of barrels of crude oil. I was previously unaware that they were constructing a new pipeline. The UAE is in the process of developing one across the Musandam Peninsula, which is expected to be completed next year.
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Fishing Fools
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In reply to No Spin Ag • 10:06a, 6/4/26
No Spin Ag said:
To gas prices dropping like a rock asap.


Don't forget Diesel.
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Funky Winkerbean
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In reply to No Spin Ag • 10:24a, 6/4/26
AG
No Spin Ag said:
To gas prices dropping like a rock asap.


Our production doesn't change price.
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IIIHorn
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In reply to Funky Winkerbean • 3:38p, 6/4/26
Funky Winkerbean said:
No Spin Ag said:
To gas prices dropping like a rock asap.


Our production doesn't change price.

Domestic oil is a significant component for gasoline.

Domestic oil is not a component for diesel.


( ...voice punctuated with a clap of distant thunder... )
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BigRobSA
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5:23p, 6/4/26
Who tasted these oils to determine they're "sour"?

Seems kind of fishy!
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MJ20/20
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In reply to BigRobSA • 5:31p, 6/4/26
AG
BigRobSA said:
Who tasted these oils to determine they're "sour"?

Seems kind of fishy!


Do F16 a favor and sample a gallon.
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