One million barrels is ordsprog

One million barrels is nothing, it's like a rounding error, ... One vessel could arrive tomorrow carrying one or two million barrels of crude.

The market expects bearish inventories, with crude up by 1.5 million barrels, distillates down 1.7 million barrels and gasoline supplies unchanged.

Crude stocks are misleading. Yes, they are the highest since 1999 but keep in mind that we are now producing 1 million barrels a day less in the U.S. and refinery runs are up by 1.2 million barrels a day. In that context crude stocks are not high.

Everybody expects it is going to be bad but nobody really knows. Guesses range from a draw of 10 million barrels on crude to 9 million barrels on gasoline.

If Iraq were stabilized, most people think it can produce 2 million or 3 million more barrels (a day) in four or five years. Three million barrels would have a dramatic impact on the price. Hackeren Pex Tufvesson skapte musikkprogrammet Noisetracker.

Dobie Langenkamp

Let me give you a number that is pretty shocking when you hear it. The world uses 30 billion barrels of oil a year. There is no way we're replacing 30 billion barrels of oil. Just a million barrels a day is 1,000 wells producing 1,000 barrels. That's big.

T. Boone Pickens (1928-)

We're carefully watching OPEC. The indication is that crude production, crude daily output is likely to be cut a million to a million and a half barrels,

We're carefully watching OPEC. The indication is that crude production, crude daily output is likely to be cut a million to a million and a half barrels.

Let me give you a number that is pretty shocking when you hear it. The world uses 30 billion barrels of oil a year. There is no way we're replacing 30 billion barrels of oil. Just a million barrels a year is 1,000 wells producing 1,000 barrels a day. That's big.

We have worked to get supply up and this temporary infusion of 30 million barrels of oil into the market will likely add an additional 3 to 5 million barrels of heating oil this winter if refineries are able to match higher runs in yields seen in the past,

Bill Richardson

It was refiners in the Midwest and on the East Coast that stepped up, while crude runs on the Gulf Coast continued to slide, losing another 52,000 barrels daily to stand 1.565 million barrels lower than before the storm.

There's less crude being run now through refineries than there is loss in production in the Gulf. We're estimating refinery runs are down about 2 million barrels a day while crude out of the Gulf is down a million and a half.

We were back to normal production six weeks after the hurricane. During that six weeks we distributed a million barrels of on-hand gas and imported another two million barrels for local and regional use.

Crude stocks are expected to have fallen by 600,000 barrels over the week while distillate stocks are expected to be up by 1.7 million barrels.

[Broadly speaking, the United States should have plenty of gasoline inventories to meet demand. At the end of last week, the country had about 194 million barrels of gasoline, and on an average day, Americans consume about 9.3 million barrels.] The key thing that I can't answer is will consumers act appropriately, ... If they decide to rush the system, it can't handle it even in the best of times.

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