Missing Barrels… Reuters – Commodity Research Group

March 10, 2016 by Jim Colburn Leave a Comment

This story is going around:

“Of the 1 billion barrels reportedly produced but not consumed, roughly 420 million are being stored on land in member countries of the Organisation for Economic Cooperation and Development (OECD).

Another 75 million barrels are thought to be stored at sea or in transit by tanker somewhere from the oil fields to the refineries.

That leaves 550 million “missing barrels” unaccounted for, apparently produced but not consumed and not visible in the inventory statistics (“Oil Market Report”, IEA, Feb. 2016).”

I think this story gets told once per cycle… Here is the link:

http://www.reuters.com/article/us-oil-stocks-kemp-idUSKCN0WA2AQ?feedType=RSS&feedName=johnKempBlog&virtualBrandChannel=14242

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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