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Energy Investing
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Re: EIA impressionsAdjustments change is clearly irrelevant...as long as it is not consistently at extremes. In this specific week adjustments plunged from positive to slightly negative for 1.033mm bpd total. But modeled exports dropped by 855K bpd, key word - modelled, that caused adjustments have plunged so deep. You should combined both together and get a small 178K bpd w/w change. So adjustments is not a problem. Inventory drop was real and accurate as reported directly. Next week adjustments may and likely will jump back up to positive...but exports will also jump back to likely 3.5 mm bpd...for a total combined min change. Imports dropped a bit, mostly in west coast as expected. So no concerns. Bullish report - big time in my opinion. romm |
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