RE: Where is the OIL GLUT ?In oil, there are two types of traders, physical traders and "market/wall street traders".
The physical oil traders know you measure the commodity using production and demand.
The market traders use the "ready to eat" inventories which are a false indicator.
I follow physical traders and they have been buying and hording cheap oil because they know that the investment community is very scared of investing considering what happened to oil from 2014-early 2016.
I will declare LTS a "no brainer" buy at 16-17 cents. Based on the charts, assets, book value and, most importantly, the HUGE money flows entering the oil sector from the leemings (aka "Market")
LOVE IT!!!
bushhog1 wrote: Last March 2016
OVER HALF of the supposed glut that the IEA has reported is unaccounted for. Not 5 or 10 percent, but greater than a whopping 50 percent. Does anyone believe that half of the glut is just missing?
https://oilprice.com/Energy/Energy-General/Exposing-The-Oil-Glut-Where-Are-The-550-Million-Missing-Barrels.html