RE:RE:We hear China Demand but do we cheat numbers?dandu1924 wrote: This is an another proof about the manipulation, all the gov trying or controling the informations, so dont be surprise about the USA information via Biden administration and this is a another tool for the Biden strategy or false-fake and twisted informations.
It is shocking the level of manipulation going on in the oil market , false numbers , misleading headlines and supressing any bullish information . I expected this would all end once the election was done but apparently that isn't the case . I don't think this will all sit too well with OPEC+ especially the week before a production meeting , they may well announce another cut with this price erosion .
China needs to get it together and reopen , covid zero is a slogan and nothing more , as a health strategy it's been a dismal failure . The fact that people are finally protesting I see as bullish , reminds me of the freedom convoy last spring . The gov't didn't like it but it did produce results . Now China is not Canada but Xi knows he needs to get that economy going again , most provincial governments are running out of money after 3 years of no revenue .
All that aside , the numbers tell the buried story which is , the US is using more oil than it produces . The SPR hasn't been this low since the 80's and all sector inventories are far below historical levels , if a real emergency happened options are limited because of under investment and destructive gov't policy .
At present there is very low liquidity in the market , that combined with some positive news could mean some extreme volitility . I'll be looking for some fireworks over the next few weeks with that OPEC+ meeting , no SPR releases and Dec 5th is Europe's D-day regarding Russian oil & gas .