US OIL glut an EIA Invention? by Leonard Brecken
Oil and gas investors must read this article, EIA is hugely overestimating supply. This look to me like S&P quality work during the housing crisis. This could be the real reason that the Saudi are not cutting. They know the real data. Brecken wrote “There will come a day of reckoning when capital expenditures dry up as demand continues and the data distortions on estimates finally become clear to the markets.” https://finance.yahoo.com/news/u-oil-glut-eia-invention-224056834.html;_ylt=AwrBTzEZ.41VEOcAiXvrFAx.;_ylu=X3oDMTBybGY3bmpvBGNvbG8DYmYxBHBvcwMyBHZ0aWQDBHNlYwNzcg--