RE: API: inventories up 7.6m barrels
Saudis and friends know that they have the shale industry on the ropes and will keep flooding Texas ports with tankers till they get the required ressults. The other thing that is happenning is that the desperate in the industry are pumping every drop they can to try and stay in front of the bill collectors - its a loosing game for them. Having said this, the big players like ECA will survive and when it turns be coming out of the gate running or get taken out. This si nothing new as it is just history that keeps repeating its self!!! ;-)