Before the pandemic of covid-19 there was a historical maximum in oil production of 100 million barrels of oil per day, this growing increase in oil production stopped when the pandemic of covid-19 arrived, however now that normality in social interaction is coming to the whole world it is expected that due to a growing demand for this natural resource there will be a supply in oil production that may exceed the historical maximum of 100 million barrels per day that was exceeded before the pandemic.
It is a historic moment that we are currently living, since two very worrying energy scenarios converge, one of them is the strong demand for energy that is only being alleviated with the supply of oil, this scenario intersects with the fact of being able to curb greenhouse gas emissions, it is a very difficult fact to control since the reactivation of old oil wells are being done to increase oil production, this can be prolonged by the fact that oil prices are soaring to historic highs that were in the past.
The economy may be affected by this crossover scenario, as if there are some restrictions to recover oil production, there may be a shaky production in the global energy supply.
Conclusion
In particular, I think that not only will it be possible to exceed the production scenario of 100 million barrels per day, but it will also be necessary to find a supply that can meet the world demand in subsequent years, which will surely be very high, all this I deduce from the simple fact that it is possible to exceed a production of 100 million barrels per day without taking into account that the current demand may increase when all the airlines recover their normal activity once the pandemic is already slowing down its course.
Greetings @carlos84, I sincerely believe that oil production will exceed the production of 100 million barrels per day, this because currently the demand for this hydrocarbon is very high and they need to cover it, this makes producing countries are dedicated to increase their production.
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Hello friend, I certainly share with you the same opinion, since that production barrier of 100 million barrels of oil per day will be overcome very soon.
Greetings and thank you for your comment.
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Greetings @ carlos84
Undoubtedly normality is coming to many countries even though we still have pandemic, of course thanks to vaccination, oil production should reach its optimal levels and surely exceed them, to meet the demand that is increasing every day, in the Venezuelan case we will have to wait to see what level of operation will reach with the lack of control, lack of personnel and equipment that the state oil company is suffering, in addition to the large investments needed to reactivate some refineries.
Thank you very much for sharing such an interesting publication.
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Hello my dear friend @dgalan.
Certainly for the case of our country Venezuela, once the price reaches levels that are justified by its demand, we would have to see how the state company PDVSA reacts to be in tune and recover the company and return to the production of the past or at least 1 million barrels of oil per day.
Greetings and thank you for your valuable comment.
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