U.S. Net Petroleum Exports Hit Highest Ever In February -- EIA; Saudi Royals Detained On Twitter -- March 7, 2020

From the EIA:

Bernie: let's kill the US oil sector. By the way, that's exactly what Russia wants to do. Coincidental? I think not. Wow, talk about collusion. And delusion.

Biden: WTF just happened?

This is what just happened: The United States was a net exporter of crude oil and petroleum products last month, with the four-week average net imports at a negative 907,000 barrels per day (bpd) in the last week of February, the lowest ‘imports’ level in EIA data dating back to 1973, according to EIA’s weekly data on net imports of crude oil and petroleum products.

Most ludicrous comment by EIA which the agency continues to iterate: despite the US, as a whole, being a net exporter, most regions of the US are still net importers of oil. California, Florida, Arkansas, and Idaho are huge importers of oil. Just saying.

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Saudi Arabia Foreign Exchange Reserves

News item: Prince MBS detained three more high-profile princes this past week. Just saying. Occurred about the same time the OPEC+ meeting dissolved into chaos with Saudi losing bigly.

Link here.

And we all thought ZeroHedge being permanently banned from Twitter was bad. It could be worse. I was completely unaware that one could be detained by Twitter. OMG! It's worse than I thought!