Friday, August 31, 2018

Bullish For Oil: US Crude Oil Supply Drops Below 23 Days -- Not Seen Since 2014 / 2015 -- August 31, 2018

From the EIA.

Going into Labor Day 2018, the US has finally dropped below 23 days of crude oil supply. We last saw that back in 2014 / 2015.  If this is not bullish for oil, I don't know what is. If it trends toward 20 days or less, "Katie, bar the door."

Disclaimer: there may be exceptions. I may have missed something, but "generally," it's an accurate statement.

Recent data first, then scroll down to see 2014/2015 data.

Recent data:

2014/2015 data:

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