RE:RE: OPEC+ meeting delayed... Losers who believe in Scams and market manipulation (only when oil goes down) shouldn't invest in the stock market, especially high volatility stocks like E&Ps.
API released crude storage data yesterday, showing a large increase and today EIA reported a huge 8.7 million barrels. Gasoline is also up, only distillates are down.
The recent OPEC data for October is showing an increase of 80 million b/d. Most of it is Iran and Angola. Iraq and Nigeria are also up. Saudis are down 26 and they may have had enough to carry the burden.
No one knows exactly how much Russia is exporting, but the U.S. and Brazil numbers are very strong. All together there are no signs that there is shortage of oil in the market. Bulls are now betting on strong demand this holiday long weekend in the U.S. This will be reported next week or the week after.