API reported a build, Joph, does that help? I want some 28c too you know!
The U.S. Energy Information Administration report on oil inventories is due to be released on Wednesday at 10:30a.m. EST.
This week’s inventory data comes amid increasingly bullish talk from key analysts who view Big Oil as entering its “Golden Age”: a ‘restraint’ phase of backwardation, cost deflation and consolidation. They point to impressive EPS earnings for oil and gas companies who have been generating higher profits at depressed oil prices than they were when oil was at $100 per barrel.
By Julianne Geiger for Oilprice.com
Damn it I can’t help myself
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