Global Oil Market - August 4
Posted: Fri Aug 04, 2017 11:45 am
Reuters take: https://www.investing.com/news/commodit ... yet-514722
U.S. crude oil inventories are the most visible data and they show that supply/demand have tightened during June and July. We definitely need to see further tightening in August.
U.S. oil production growth has slowed. As I posted here earlier, EIA grossly overstated U.S. oil production in both April and May. EIA's weekly reports are just estimates. May is the most current actual data.
U.S. crude oil inventories are the most visible data and they show that supply/demand have tightened during June and July. We definitely need to see further tightening in August.
U.S. oil production growth has slowed. As I posted here earlier, EIA grossly overstated U.S. oil production in both April and May. EIA's weekly reports are just estimates. May is the most current actual data.