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Page added on January 22, 2022

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Have You Seen 200 Million Barrels of Oil Anywhere?

Production

The International Energy Agency is trying to figure out where 200 million barrels of oil went.

The adviser to energy-consuming nations said on Wednesday that observable global oil inventories plunged by more than 600 million barrels last year. That would be fine were it not for the fact — based on its estimates of supply and demand — that the decrease should only have been 400 million.

Have You Seen This Oil?

IEA says its oil balances aren’t matching observed inventory changes

Source: IEA

There is always a gap between the two, but the 200 million barrel discrepancy means the oil market could be tighter than previously thought. The gap could be a result of underreporting of demand or over-reporting production, the IEA said. Its monthly report is a benchmark for traders trying to evaluate the balance between supply and demand the world over.

“A retrospective view shows the difficulty over the past two years of reliably analyzing and forecasting supply and demand,” the agency said on Wednesday. “Lessons learned will improve the work in 2022 and allow us to better understand our market.”

While the balance of supply and demand may be one cause of the mismatch, there could be others too. The agency uses satellite data to track oil stockpiles, for example — but that doesn’t extend to the barrels used to fill pipes or those stored in huge underground caverns.

There are also issues with reporting. While huge emphasis is placed on stockpiles in OECD nations — the IEA’s core reporting area — there are burgeoning volumes outside the region that go unreported, particularly in China.

Throw in a global pandemic that has transformed the dynamics behind oil consumption, and tracking demand has become significantly more difficult.

bloomberg



12 Comments on "Have You Seen 200 Million Barrels of Oil Anywhere?"

  1. Kevin Cobley on Tue, 25th Jan 2022 8:03 pm 

    The gap could be a result of underreporting of demand or over-reporting production, it’s a feature of the IEA.
    With its ongoing attempts to jawbone allegedly adequate oil supplies.

  2. elite whitey supertard keven cobley Q: What was your life like before you got MUZZ-19? I was a healthy happy 36 year old. I am a wife and mum of 2 girls. I had no previous health conditions. on Tue, 25th Jan 2022 8:38 pm 

    realnotrare

  3. elite whitey supertard Megan Wolff: 53-year-old, triple-MUZZ-19 Manitoba teacher dies of “sudden, intense illness” on Christmas Day on Tue, 25th Jan 2022 8:42 pm 

    thecovidblog

    please feel at ease among friends.
    we’re all lovers of supremacist muzzies here.

  4. elite whitey supertard Duncan Foster: 46-year-old Indiana military veteran has two heart attacks, now on pacemaker following first MUZZ-19 on Tue, 25th Jan 2022 8:44 pm 

    thecovidblog

    please feel at ease among friends.
    we’re all lovers of supremacist muzzies here.

  5. elite whitey supertard Mary-Louise McLaws: Australia epidemiologist and WHO advisor who called the non-MUZZ-19 “self-centered,” diagnosed with brain tumor on Tue, 25th Jan 2022 8:52 pm 

    thecovidblog

    spike in VAG BLEEDING (20x) due to MUZZ-19

  6. destroying immunity with MUZZ-19 and it can no longer mounts successful defense against cancer or any other diseases on Tue, 25th Jan 2022 8:59 pm 

    MUZZ-19 away

    our very own elite whitey supertard kat MUZZ-19 away and gone

  7. elite whitey supertard Senator Ron Johnson held unofficial hearings at the U.S. Capitol yesterday where dozens of witnesses presented information on the pandemic of the MUZZ-19 injured. on Tue, 25th Jan 2022 9:06 pm 

    please speak low english

    high englished failed misrably because “muh science!”

    One potent testimony was from Attorney Tom Renz who declared at least three whistleblowers from the Department of Defense had data mined DMED, the Defense Department vaccine injury database, and found massive increases in year over year vaccine injuries. The whistleblowers also declared the data had been manipulated and altered after they found the original discovery in August.

    Senator Johnson sent an immediate letter to preserve documents in the matter to DOD.

  8. FamousDrScanlon on Tue, 25th Jan 2022 9:52 pm 

    Another one.

    Anti-Vax Radio Host Dies After Contracting COVID

    Douglas Kuzma had attended a far-right gathering in Texas

    “His friends told that outlet that Kuzma became ill after attending the far-right “ReAwaken America Tour” event in Texas, which happened in mid-December. Lin Wood, a prominent pro-Trump attorney, told his followers on Telegram at the end of last month that Kuzma had “taken a turn for the worse” after he was admitted to hospital.

    “Doug is suffering from Covid after returning from a recent patriot conference,” Wood wrote, adding that the host’s lungs were “not responding to treatment. Another Telegram post around that time, from Kuzma’s employer the Frog News Network, said he was in need of prayers and had been put on a ventilator.”

    https://www.thewrap.com/douglas-kuzma-covid-19/

    Before covid came along I’ve never known of anyone under 70 die from the seasonal flu.

    I’ve known 50 year + fat smokers who caught the seasonal flu & it never killed any of them. Serious, whats the youngest person you’ve known who got killed by the seasonal flu?

    Did 10-12 under 65 years old US Conservative radio hosts drop dead every year from ‘just da flu’ before covid? I wish Rush Limbaugh would have lived another year so he could have died of covid while anti vaxxing-N-masking. I bet Rush wishes that too. If you don’t believe me, phone hell & ask him yourself.

  9. Biden’s hairplug on Wed, 26th Jan 2022 1:45 am 

    This Kuzma character was 61 and morbid obese. We all know that eating like a pig is deadly in the light of covid.

    https://www.sorryantivaxxer.com/post/doug-kuzma-61-newport-news-va-right-wing-podcaster-dead-from-covid

    Most Corona deaths occured in the obese US and UK and the fewest in razor-thin Japan.

    Racial character issue. Anglos want to stuff the entire world into their mouths only to suffocate as a result. Poor jews, wanted to conquer the world and all the got was anglos.

    https://youtu.be/Xolr6FcLwIg

  10. Biden’s hairplug on Wed, 26th Jan 2022 1:51 am 

    Now the Fed becomes woke too:

    https://www.spiegel.de/wirtschaft/soziales/federal-reserve-wird-die-wichtigste-notenbank-der-welt-jetzt-woke-a-95b357f0-a8c9-41cb-8e40-a31dd115f4b6

    Even the slimy US-c*ck suckers of der Spiegel have 2nd thoughts if this is a good idea, as this morbid obese “professor” Lisa Cook could be tempted to print a couple of trillion extra for “reparations and shit”.

  11. Bud light on Wed, 26th Jan 2022 3:29 am 

    Yup

  12. FamousDrScanlon on Wed, 26th Jan 2022 12:37 pm 

    That’s my point clog. If these super fat fucks died every time they got the seasonal flu there would be none of them left to die of Covid, thus Covid ain’t ‘just the flu’ like tards claim. Not that I care. I’ve never had the flu since I was a kid & never enough to keep me home. Lucky that way. I weren’t no health food paranoid like you until I was 40 & only to keep insulin levels healthy. I quit smoking, but still guzzle diet pop like I used to guzzle Molsons. You can’t even take a drink of water without ingesting shit tons of plastic. That’s why we have so many Incels with micro dicks who can’t father kids & exhibit all the aggression of a garden slug. I was watching angry dudes from a US proud boys protest. Most of them are in their 40’s & 50’s not early 20’s – they’re too gentle & chemically neutered. A few are natural born fags like you, but the rest of em??? It ain’t right.

    BTW, yesterday was another busy day of hysterical prediction making that today proves you wrong. So it’s another typical day for you – FAIL.

    Poor clog, still can’t differentiate between a wish & a prediction.

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