Long Run Explor Ltd Ord WFREF

RE:RE:RE:RE:RE:RE:RE:Manipulation

[JohnJBond]

Ask yourself why you believe the world is awash in oil, where that information came from, and who stands to gain/loose as a result.

Also ask yourself if the "World" consists of 52 states or 196 Countries.

I agree that oil is accumulting in the US on a weekly basis - if the US were the World, then it would mean the US is producing more oil than it consumes - but its not.

In 2014 the US consumed an average of 19.04 million barrels of oil per day.     For the week ended March 6/15 the US total crude oil production was 9.366 million barrels per day, or about 10 million barrels per day less than demand.

That extra 10 million plus barrels per day, is being imported into the US.

Add to those imports, and you get increased volume in US storage.

I agree there is extra oil on the world stage right now.     I don't know how much there is.     An extra million barrels per day is not very much - just a little over 1% - thats well within the seasonal variance, and less than the normal annual growth in demand.

What sounds larger, and has more media effect?........"awash with oil" or an extra 1%

When people use words like "the World is Awash with Oil" instead of supply exceeds demand by about 1%, words like exaggeration and manipulation come into my mind.

When those same people omit the bit about that extra 1% being needed to meet normal demand growth by the end of the year, I again think of words like exaggeration and maniipulation.

The world was awash with oil once upon a time - and that led to OPEC.

The day that OPEC is no longer able to control oil prices, is the day the world is no longer awash with oil!