The Drain Of The SPR Continues
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I’m genuinely shocked more people are not talking about this….
“Davidson:” submits
- Total US Crude Inv rises 5.5mil BBL(a rise of 10.2mil BBL in working & decline of 4.2mil BBL SPR) US Crude Prod declined 0.1 to 12.1mil BBL/Day, Fudge factor of 2.26mil BBL/Day(15.8mil BBL/Week) unusually large
- US Refined Prod rose, gasoline ~4mil BBL, slimmer rises in Diesel and Jet Fuel, Refining Inputs declined slightly. US Exports of Refined Prod declined this week.
There was a surprising rise in SPR releases (4.7mil BBL vs 1.4mil BBL 2 weeks ago) when it was believed that releases were about to turn towards refilling. The continued decline in SPR may pressure the slow US drilling and production to remain so till conditions change.
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Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or ...
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