Fundamental errors strewn throughout it.
Saudi Arabia’s quoted reserves are CRUDE, not ALL LIQUIDS. Their production and reserves both are crude — which is the only stuff that really matters for transportation.
The US quote of 9+ mbpd is all liquids. Apples and Oranges. That number includes propane and butane and ethane and ethanol, none of which contain 5.6 million BTUs per barrel. It’s not the same stuff as crude, which DOES contain 5.6 million BTUs/barrel.
The vast majority of the decline in US imports much ballyhooed is because of the economic smash that has been administered to consumption. The uptick in US crude production is tiny and remains about 4-5 mbpd below its peak 30 years ago.
This whole thing is horribly overhyped and eventually a great many people will die because of it.
Another little item of absurdity from US ‘oil production’ is called “refinery gain”.
What refinery gain means is when you take viscous, heavy crude (relative to gasoline) and refine it into gasoline, you get a volume gain. 1 barrel of crude might make 1.3 barrels of gasoline. That 0.3 barrel number is called “oil production” by the US (and pretty much no one else does this).
Far worse, if we take Nigerian crude, refine it to gasoline, and see that 0.3 barrel gain, we call that “US oil production” — and we call it that EVEN IF WE SHIP THE GASOLINE OUTSIDE THE US.
There is just a ton of lying going on.