There Are Several Reasons Not To Despair Over The Rise In Oil Inventories

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From Finding Alpha

Summary

Oil prices have seen a rather bumpy ride after oil inventories rose significantly and after the oil rig count fell for its 7th straight week.

While the rise in inventories is certainly bad, investors should keep in mind the forecast provided by the EIA just a few days ago, which forecast a big draw’s coming.

Add to this the fact that gasoline and distillate fuel stocks are falling and production resumed its decline for the week and the future looks quite bright for crude.

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About Scott

Live next to Chevron refinery. Lots of petroleum consultants in the area. I am interested in learning more about the industry. Also, interested in finance, business, and investing in world markets.
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