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Dan Steffens: Chinese Oil Demand Picking Back Up Again While Permian Basin Production Growth Slows?

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Jason Burack of Wall St for Main St interviewed returning guest, former senior executive as Hess Oil for many years and the President of The Energy Prospectus Group https://energyprospectus.com/ in Texas, Dan Steffens.

During this 40+ minute interview, Dan talks about how Permian Basin oil production growth is starting to slow down now after the US achieved 13 million barrels per day of oil production.

Oil demand in China surprising increased by over 5% in April and US natural gas prices after being low for the last 9 months have started to rally a bit.

Dan Steffens talks about a number of Permian Basin oil producers, US natural gas producers hedged for the next 1824 months at $4 natural gas price and good dividend and income pipeline companies.

Dan talks about how US oil production growth in the Permian Basin will be slowing down as the US hit a record 13 million barrels per day oil production and how demand should start to increase in the US soon for summer driving season.

Dan also talks about how much US LNG exports will grow by 2030 and why US and global electricity demand needs more investments into natural gas, coal and nuclear power going forward for new technologies like data centers for artificial intelligence and electric vehicles.

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