Huge Inventory Build, EIA

After plunging oil bulls into deeper gloom by forecasting a 131,000-bpd jump in shale oil production next month, the Energy Information Administration reported a 5-million-barrel increase in crude oil inventories for the week to March 9—in stark contrast to yesterday’s API figures.

This compares with a 2.4 million barrel build reported last week and analyst expectations of a 560,000-bpd increase. A day earlier, the American Petroleum Institute reported an estimated 1.156 million barrel inventory increase for the period.

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Why do you think there's been such a wide divergence in API and EIA figures? This seems to have happened frequently over the past year or so ... 

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