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Feature Article

08/31/2016 - 11:21am By: Zero Hedge

One of the recurring peculiarities of oil complex data as reported by the EIA was how, during a time of an unprecedented crude glut by OPEC and pronounced economic weakness in the US, was overall US demand of various petrochemical products as strong as the DOE reported on a weekly basis. To be sure, the alleged increase in demand was one of the major catalysts that prompted rising oil prices together with relentless jawboning by OPEC members about a production freeze that would never materialize, in turn spurring not one but two record short squeeze across the commodity complex.
In a note released moments ago by the EIA, whose bias to keeping prices as high as possible is no secret, admitted that over the....

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