Data Disconnects -- Oil Prices -- OPEC Production Climbs to Highest Level In THREE YEARS -- Price of Brent Oil Hits Three-Week High

Earlier this week, a CNBC talking head predicted oil was likely to go under $100 by the end of the week.

Not only did WTI not go under $100, Brent hit a three-week high.

Oil rose to the highest level in more than three weeks in New York as the biggest gain in U.S. consumer spending in more than a year and better-than-projected earnings overshadowed lower-than-forecast economic growth. 

Now this:

Oil output in April by the Organization of Petroleum Exporting Countries climbed to the highest level in more than three years, a Bloomberg survey showed. Production increased 305,000 barrels, or 1 percent, to an average 31.405 million barrels a day from a revised 31.1 million in March, according to the survey of oil companies, producers and analysts. Output rose to the highest level since October 2008.

Saudi Arabia, OPEC’s biggest producer, bolstered output by 115,000 barrels a day to 9.82 million this month. The gain left production at the highest level since August. 

There's a name for this: -- the Red Queen Race.