RE: $69 brent coming15 Aug 2018 16:43
Running with the herd, The US is just one consumer of oil and what is happening is oil stored in SA is now being stored in the US. see:- U.S. crude oil imports averaged 9.0 million barrels per day last week, up by 1,083,000
barrels per day from the previous week. Over the past four weeks, crude oil imports
averaged about 8.1 million barrels per day, 0.9% more than the same four-week period
last year. The build is just about more oil now in the US rather than SA. The interesting numbers are world production and consumption, look at the big picture to see where oil is going.