Crude Tsunami
The glut is real
In this report: Conoco CEO comments and the wave approaching shores around the world is as big as the 2020 one.
EIA weekly oil data
Production holding all-time highs with a build of 3.524 million. The adjustment last week was pretty massive at 1.046mil b. It is a calculated value representing the uncertainty in the data, showing the difference between the independently calculated supply and use components.
SPR is the amount of barrels remaining in the US Strategic Petroleum Reserves.
Stocks is the amount of barrels remaining in US Commercial Inventory.
Cushing is the amount of barrels remaining in Cushing, Oklahoma.
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