Can We Really Trust EIA Data?

[Rodent + 1,424]

Seems to be a flurry of accusers that EIA's data is wrong--to the ire of this writer for Seeking Alpha. https://seekingalpha.com/article/4131270-crude-oil-eia-bashers-check-numbers

"Disappointingly, the outbreak of the 'can't trust the EIA' fever among sensation-seeking amateur writers has coincided with less-than thought-out criticisms by some respected industry insiders and weak coverage of the subject by major financial news outlets."

"The wave of frivolous accusations against the EIA in the blogosphere preys on the least protected category of investors."

HARSH.

 

 

[TraderTate + 186]

Who else has the resources to compile more comprehensive data than the EIA?

[Rodent + 1,424]

right. I mean, they might not be accurate, but I challenge another institution to come up with more accurate figures. API may say it's them. Tanker Trackers also keeps tabs on inventories by monitoring exports and imports and production.