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Title : API Announces "Unprecedented" Drawdown In US Crude Oil Reserves -- January 9, 2018
link : API Announces "Unprecedented" Drawdown In US Crude Oil Reserves -- January 9, 2018

API Announces "Unprecedented" Drawdown In US Crude Oil Reserves -- January 9, 2018

Wow! API weekly crude oil drawdown --

• previous week: - 4.992 million
• forecast for this week: -3.90 million
• actual: -11.190 million
• comment: in the past 36 weeks of tracking this data, an EIA drawdown has never exceeded 8 million bbls, and the average is almost exactly 3 million bbls/week; if the EIA data comes anywhere close to a drawdown of 9 million bbls, "Katie, bar the door"
• comment: look at the price of WTI  after this data was announced 
• for re-balancing, I use EIA data, not API data; EIA data always seems to come in under API data

Active rigs:

$63.48↑↑	1/9/2018	01/09/2017	01/09/2016	01/09/2015	01/09/2014
Active Rigs	53	37	58	167	193

new permits: pending

http://ift.tt/2dZyQXu

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