Post by
BLACKJACK86 on Feb 15, 2023 10:02pm
this explain why the big build at EIA
Taken from BTE bullboard:
Morningstar article summed up the rudimentary accounting of the Barrels.....The EIA data includes an upward "adjustment" to crude stocks of 1.967 million barrels per day for the week ended Feb. 10, which added roughly 14 million barrels of supply for the week. The government agency said the adjustment, formerly known as "unaccounted-for crude oil," is a "balancing item."
Comment by
Maxmoe on Feb 15, 2023 11:44pm
Could be BS, could be smuggled oil out of Russia and Iran , or a bit of both. Whatever it is, it's not likely to require a "balancing item" that large every week. If it is just fiddle-fart accounting it can just as easily reverse itself.