The only explanation that makes any sense is that demand is down in the rest of the world,
maybe in your bizarro reality but in the real world global demand for oil continues to rise as illustrated in the BP report discussed up thread.
The Speculators see the handwriting on the wall; massive and growing inventories are not going to be good for upward long term pricing, and are pulling out of their long positions.
We have now come full circle, growing inventories are now a sign of "increasing" demand? That sounds like more debt is good for the economy! You will find all of this on page 23 of the "Double Speak Dictionary"! Edited and published by Big Brother and Company Publishing.
So maybe you believe that growing inventories are going to push Speculators into long positions?
creedoninmo wrote:Adam B: You are basically not saying anything. I am not here to waste my time with someone who says nothing.
creedoninmo wrote:The U.S. is not an energy producing super power.
creedoninmo wrote:We import half of our energy. What we are is a debt producing super power. The title of the thread should be changed. We are a debt producing super power.
creedoninmo wrote:CNBC is saying that the current drop in oil prices is due to the fact that the Saudis haven't cut supply enough. In another month they will be back out with another story about how the price is going to go back up because OPEC is cutting supply. They've been playing the same game for seemingly years now.
creedoninmo wrote: You are right, we can out bid the rest of the world for crude.
rockdoc123 wrote:This raises suspicions that either you never actually look at real data or you have a very difficult time understanding what it is telling you.
creedoninmo wrote:Adam B: Oil production by country; Wikipedia; 2016 data: U.S. 8.875 mb/d, Russia 10.551 mb/d, Saudi Arabia; 10.460 mb/d.
Oil consumption by country: U.S. 19,396,000 barrels/day, Russia 3,113,000 barrels/day, Saudi Arabia 3,889,000 barrels/day,
pstarr wrote:creedoninmo wrote:Adam B: Oil production by country; Wikipedia; 2016 data: U.S. 8.875 mb/d, Russia 10.551 mb/d, Saudi Arabia; 10.460 mb/d.
Oil consumption by country: U.S. 19,396,000 barrels/day, Russia 3,113,000 barrels/day, Saudi Arabia 3,889,000 barrels/day,
Creed, It's not necessary to cloud the discussion with facts. You should know better
Perhaps you could start your own thread and name it as you wish. I like the thread title just the way it is.
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