Post by
TonyDj on Nov 02, 2016 6:54pm
API /EIA Numbers are Bogus.Oil Shortage Brewing.
Oil inventory numbers are very suspect. They have a history of being wrong more often than not. The damage done in the last 2 years has hurt everyone in the pocketbook. $50 dollar oil doesn't cut it as the service companies are on their backs- this cannot continue indefinately. Nevermind $45 Oil. The cure for lower Oil prices is low oil prices.These prices for NBZ are a bargain- trading volume today is double the average daily.I bought more- yesterday and more today.
Comment by
ppp on Nov 03, 2016 1:42pm
This report is what you want to read, look at page 90 it shows we are still over producing by 500,000 bbls as of q3. Look at how it has come down over the quarters. Based on this info if OPEC cuts 500,000 bbls we have a balanced market. https://www.opec.org/opec_web/en/publications/338.htm
Comment by
ppp on Nov 04, 2016 11:39am
A few links that are worth reading. https://www.oxfordenergy.org/wpcms/wp-content/uploads/2016/10/Can-Iraqi-oil-production-surprise-again-on-the-upside.pdf https://oilprice.com/Energy/Crude-Oil/Debunking-The-Massive-EIA-Crude-Build.html