No. of Recommendations: 4
Here is link to daily average US oil production. It has fallen since the start of the war
Look at a longer time horizon. Big inventory build in November and December, as if big oil knew what was coming. Big oil may have been fearing things would go badly in Venezuela, in which case their inventory build would have been perfectly timed. But Rodriquez bent over for Trump the Conqueror. Now, they are drawing down their inventory, which is still above the average prior to November 2025. They will probably continue the drawdown for a couple-three more weeks. Then the media will start screaming about "shortage", to kick in the afterburners on price, just in time for Memorial Day, because hype and hysteria is what USian media does these days.
Steve
