Money managers most bullish ever… Bloomberg

February 5, 2017 by Jim Colburn Leave a Comment

This is data from the CFTC organized by Bloomberg:

“Money managers are the most bullish ever on West Texas Intermediate crude for a second week as signs show OPEC and other nations are slashing production. The group cut supply by 840,000 barrels a day last month, according to a Bloomberg survey, and Russia, the largest of the non-members taking part in the deal, reduced output by 117,000 barrels a day….

Hedge funds increased their net-long position, or the difference between bets on a price increase and wagers on a decline, by 2.4 percent to 379,927 in the week ended Jan. 31, the highest level in data going back to 2006, U.S. Commodity Futures Trading Commission data show.”

https://www.bloomberg.com/news/articles/2017-02-06/investors-have-never-loved-opec-so-much-as-cartel-sticks-to-cuts

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.

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