RE:RE:RE:Oil price. The adjustment factor (which is new, vague, and difficult to understand) seems to be causing large discrepancies between api and Eia.
There are some in the industry that believe it is just a fudge factor being used by the us government to keep a lid on oil prices. But like telling a long running lie, that would seem like a dangerous tact as eventually the whole market could blow up when the truth is exposed. So I'm not sure. But if true, they would make terrible chess players.
liljohnnyjoke wrote: The biggest discrepancy between API and EIA inventories I have seen over the years is 11 million so this has potential to break that record. How can an estimate of a draw of 900k balloon to 15.4M in one week? Unless there was some sort of month end math error correction by API? Guess we will find out later today what math EIA is using.