18.03.2016 - No One Knows Where These 800,000 Barrels of Oil Have Gone
The status of this missing crude could mean a lot for the global oil market. Just two months ago, the International Energy Agency warned that the global oil market could “drown in oversupply.” But according to a Wall Street Journal report, a large portion of the problematic oversupply that is worrying traders and potentially holding down oil prices is also nowhere to be found. The IEA was unable to account for 800,000 barrels of crude per day last year—the highest level of missing crude in 17 years. The missing crude could simply be a figment of statistics, showing up in the agency’s data due to flawed accounting...............................................Full Article: Source
Print