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AZJonnie

(3,976 posts)

3. I could swear last I looked up that stat was not *that* long ago

Sat May 9, 2026, 09:59 AM

Yesterday

And the number was closer to 80-85M. But even then, a 15-20M barrel/day shortfall should, as you say, pump prices into the range you're talking about. Also, I believe on the spot market, it is regularly hitting $200/barrel. Conversely, futures prices are generally what we see quoted in the news. But yeah, the market is living on borrowed time here, methinks. The longer the strait stays closed, the more likely a real explosion in the cost happens.

When that happens, the world is going to be at one another's throats. Which may be more of a "feature than a bug" as the saying goes.

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WSHazel

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Highlight:

The World Uses 103 Million Barrels Of Crude Oil Per Day [View all] gab13by13 Yesterday OP

stock market will make a killing....... Lovie777 Yesterday #1

Well, the pros with insider knowledge and the skills to leverage it will AZJonnie Yesterday #2

I could swear last I looked up that stat was not *that* long ago AZJonnie Yesterday #3

I used a live global oil production counter for my daily number gab13by13 Yesterday #4

Thanks. I have a bit of a bad memory when it comes to timeframes AZJonnie Yesterday #5

China won't likely hit peak oil for another few years Melon Yesterday #6

That's not how the specific term "peak oil" is generally used, but I take your point (nt) AZJonnie Yesterday #7

This message was self-deleted by its author nitpicked Yesterday #8

I based my own assessment on EIA's report nitpicked Yesterday #9