EIA ‘adjustments’ in weekly U.S oil supply data tables aboutThere's definitely a disconnect between the real numbers and what was recorded but with the US economy still going at a steady pace having a 16Mil build something isn't right with corporate BS explaining the mess, If they did it to show Putin that any cuts they propose won't affect the market they did a great job with this record build and Biden coming out saying that the US will support shortages by using SPR is all this a coincident days after Putin announces cuts but Governments like Russia and the US don't play head games they never are misleading and come next week Oil Stocks will be down -5Mil but if OPEC and EIA are right we are heading towards higher Oil and right now any disruption in global production like Putin we see how fast Oil runs up and there shouldn't be any negative data through Friday. Biden should be buying Oil after seeing this build and if he doesn't see this as an opportunity before Oil really tightens up then this is all smoke and mirrors and that's why the bulls rallied Oil up $2 from $77 to $79 something became obvious because that rally was straight up $2 that bullishness on what should have been a disastrous day after US Data. Hopefully, Oil is in the green and up $1.50 knocking on the $80+ door but I'll take any green as positive.
What are these EIA 'adjustments' in the weekly U.S. oil supply data tables all about? - MarketWatch