RE:RE:RE:Josef SchachterKathyPookey wrote:
I'd like to add another eye opening fact re the USA oil data when it comes to actual vs analysts' estimates. Do you ever wonder why the actual # is often way out of wack from the USA analysts' estimates ??? Keep an eye on when USA gasoline prices start to rise and what happens to the accuracy of actual vs estimate. You'll often find that in a week an unexpected 8 million barrels + will show up at Cushing...all depends on how much the gasoline price starts to rise as to how many unexpected barrels show up. It's pretty consistent. It's called the USA Gov on paper transfers oil to Cushing inventory from the strategic petroleum reserve to try to get the gasoline prices to drop. There's a reason this reserve is called " Strategic "
Excellent! I think you might be on to something here.... That would explain the "circus act" on the weekly numbers as people call it.
Funny how NA traders view US production increases as bearish and fail to look at the big world picture.