RE:RE:Oil Market is Much Tighter than it AppearsThe USA ramped up imports almost 10 million boe last week and the SPR released another 2.5 million boe last week.
The imports are way over the weekly import average by almost 6 million boe last week.
The SPR release is 2.5 million boe.
The build was only 4.5 million boe 93.1 refinery utilization
The USA is using a ton of oil and if it was not for the SPR releases and big increases in Imports there would of been another huge draw.
SPR releases end June 30.
IMHO