How The OPEC “Cut” Actually Added 1 Million Barrels/Day To The Oil Market

How The OPEC “Cut” Actually Added 1 Million Barrels/Day To The Oil Market

February 23, 2017

Well I'm not sure if I'd call it "bullish", but as I've noted before "less dismal than yesterday" now counts as "good" news for oil prices and between the API numbers and the EIA report (both of which were delayed by a day this week due to the holiday), the picture is maybe "less dismal" than Tuesday. You've probably seen the numbers by now, but here's the recap: API Crude inventories fell 884k bbl last week Cushing -1.73m bbl Gasoline -893k Distillates -4.23m EIA Crude +564k Bbl, Medi

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