Become a Patron

Subscribe on
iTunes    Android
YouTube    RSS

Raghee Horner – Interesting Times Ahead in the Oil Market

from Financial Survival Network

Raghee Horner believes that there’s huge profits to be made trading the energy sector. A lot is going on there. The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. U.S. crude production is expected to reach a record of 12.1 million barrels a day in 2023, up about 2 million barrels a day from this year, said the International Energy Agency, which advises governments and corporations on industry trends. American oil output will surge past Russia, currently the world’s largest crude producer at about 11 million barrels a day. The IEA’s closely watched five-year forecast showed the U.S. hitting new strides in its oil and gas boom, helped by technological advances, improved efficiency and a fragile recovery in oil prices that is encouraging shale companies to ramp up their drilling. Once heavily dependent on imports from the Middle East, the U.S. is getting closer to achieving its goal of producing enough crude to meet domestic demand for refined products like gasoline. Of the 6.4 million new barrels of oil that will be pumped every day between now and 2023, almost 60% will come from the U.S., the IEA said. American influence on global oil markets is also expected to rise, with U.S. oil exports more than doubling to 4.9 million barrels a day by 2023, according to the IEA.

Click Here to Listen to the Audio

Sign up (on the right side) for the instant free Financial Survival Toolkit and free weekly newsletter.

2 comments to Raghee Horner – Interesting Times Ahead in the Oil Market

  • Anonymous

    She obviously knows very little about the fundamentals of oil. She said there is a glut (nope, that ended at least 6 months ago) and that there isn’t a demand increase, yet we had record demand last year and will exceed that again this year.

  • Braindead Guests

    Pump ‘n dump

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>




Time limit is exhausted. Please reload the CAPTCHA.