GREY:WFREF - Post by User
Comment by
perdikaoilgason Apr 01, 2015 2:50pm
103 Views
Post# 23588164
RE:Finally what we have been waiting for
RE:Finally what we have been waiting forThank you John for this update.
JohnJBond wrote: One or more of the idiots posting on this board can't understand why WTI is strongly up today, while US oil inventories increased.
The reason for your inability to understand, is because you are an idiot.
The rest of us are celebrating the importance of today's report.
Today's US weekly crude oil production report (for the week ended March 27/15) reported daily US production for the week of 9,386,000 barrels. Last week was 9,422,000. This is a weekly drop of 36,000 barrels per day produced in the US.
We've been waiting for the daily US oil production to start the decline that must follow the reduced rig count, and this looks like its starting.
It will take a few more weeks to confirm that US oil production has started to decline, but this looks like the beginning.