AllThingsVentured(@AllVentured):Ask yourself why oil inventories are accelerating downward DESPITE increased flows from the middle east. China reported a 35mil barrel draw last week. That's 7mmb/d! It's not a magical sudden return of demand. Whatever invisible inventories that were being used to make inferred demand look lower are now gone, China is being forced to increase refining runs, and we are back to seeing the real effect of the global supply deficit.

AllThingsVentured

@AllVentured

Bold and unfiltered takes on trade, shipping, and commodities. Not investment advice.

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AllThingsVentured@AllVentured

2026.09.21 19:18

Ask yourself why oil inventories are accelerating downward DESPITE increased flows from the middle east. China reported a 35mil barrel draw last week. That's 7mmb/d! It's not a magical sudden return of demand. Whatever invisible inventories that were being used to make inferred demand look lower are now gone, China is being forced to increase refining runs, and we are back to seeing the real effect of the global supply deficit.