PENN WEST PETROLEUM LTD. T.PWT

Hack Attack

[makedonka]

"The global markets have another concern as a ransomware attack across the Ukraine targeted business including Russian oil and gas company Rosneft and Danish shipping firm Maersk. Last night after oil traders saw the American Petroleum Institute (API) supply report might leave some to wonder if they got hacked after the API reported that crude oil supply, in defiance of conventional thinking, increased by 851,000-barrels last week. That was a stunner as the street was looking for a 2 million barrel plus decrease in supply and the whisper number was even larger because of the perceived impact of Tropical Storm Cindy. The market was pulled down but managed to close back above the level that put it in so called bear market territory and raises more questions about the stubborn U.S. supply. It also raises questions about the numbers provided from the API that keep increasing week after week. Are they out of line with the so called official data from the Energy Information Administration (EIA). Sometimes I wonder if they know they are supposed to be reporting on the same data for the same week."

https://blog.pricegroup.com/2017/06/28/hack-attack-the-energy-report-062817/