Barrels in the sleeve: U.S. manipulates its oil reserves?
In the last two weeks the oil reserves in the United States fell at a record for the last 30 years. According to analysts, the oil companies manipulate data and await the right time to launch the oil to market.
According to the blog of economy ‘ZeroHedge’, adding data on the volume of U.S. domestic production of the last two weeks, adding imports and taking into account the production at the refineries, cannot be explained in any way the record fall of reservations, by which a logical question arises: where is the oil?
While imports have decreased compared to last year, domestic production has increased to a greater extent, so not explain the fall of reserves the blog assumes that oil could be transported from the repositories registered officially, that not contained in official documents.
On the other hand, is not clear coming from Saudi Arabia, the largest exporter of oil, now that you are sending less crude oil to the United States. According to ‘ZeroHedge’, it is unlikely that they are exporting ‘black gold’ to China or Europe, where car sales market has fallen considerably and there is a high level of unemployment. Thus the things, the blog concludes that Saudi Arabia still has oil, and it would be forced to lower the price to the oil accumulated in excess.
Finally, ‘ZeroHedge’ warns that millions of barrels of oil stored in ports around the world and then, In the best moment, to be able to raise the prices, and he remembers that this one is not the first time that the petroleum Americans companies use this commercial trick.
The oil inventory published today fell in -6.9M barrels from -9.9M barrels, the market was expecting for a value over of-1.9M from barrels.
- Erick Gálvez