Veren Inc T.VRN

API Crude Oil Stock numbers

[smallcaptdr]

The consensus was for a draw of -1Mil and it came in -3.93Mil so tomorrow EIA should also show a larger draw deeper than the EIA consensus of -1.1Mil and if the FED shows that they're going to pause that could be the 2 ingredients to kick Oil higher, Oil trades on human perception so as soon as the market feels that the worst has passed then focus will be on Oil tightness due to OPEC cuts which should start showing tightness as the cuts cycle through. Tomorrow is truly hump day Wed with Oil showing an unexpected draw, plus we get past the FED decision and China Caxin Manufacturing PMI. Once everyone starts to realize how overdone this sell-off has been I believe that Oil will start the next bullish run higher and hopefully these companies aren't slaughtered before it happens. You only lose money when you sell.




US API Crude Oil Stock

[vwbusman]

I have come to the conclusion that all of the supply and demand facts really just don't matter for the oil price.   It is simply traders, algos and general sentiment that determines price.  Supply and Demand will only influence in an extreme situation - one in which we are simply not it right now. I have stopped paying any attention to weekly draw, supply, spr numbers - they

[papaloapan]

I would generally agree. In my view O&G stocks move with the price of oil - oil is up, so are they, and ...  The interesting phenomenon is that these moves are non-discrimi.  Affect all O&G stocks similarly, regardless of differing underlying fandamentals. Many factors move the markets, but for these companies, they are tied to a commodity and burdened by just enough traders to

[Moemoney42]

That's been my opinion and view for many quarters now.. EIA and API numbers are really meaningless.. they are easily manipulated and frankly irrelevant in the global picture.. :-/