By EconMatters

We discuss the API Report after the close tonight which showed another big oil drawdown, and an overall strong report. The market sentiment is really bearish right now, fading a lot of solid EIA Reports. At what point do oil traders ask themselves if they are still stuck on last year`s trade? Is the Oil Market not only rebalanced, but actually in deficit right now?

2016-Feb	02/05	470,676	02/12	472,823	02/19	476,325	02/26	486,699
2016-Mar	03/04	490,843	03/11	492,160	03/18	501,517	03/25	503,816
2016-Apr	04/01	498,598	04/08	505,232	04/15	507,312	04/22	509,311	04/29	512,095
2016-May	05/06	508,487	05/13	509,797	05/20	505,571	05/27	504,205
2016-Jun	06/03	501,844	06/10	500,911	06/17	499,994	06/24	495,941
2016-Jul	07/01	493,718	07/08	491,172	07/15	488,830	07/22	490,501	07/29	491,914
2016-Aug	08/05	492,969	08/12	490,461	08/19	492,962	08/26	495,238
2016-Sep	09/02	480,725	09/09	480,166	09/16	473,966	09/23	472,084	09/30	469,108
2016-Oct	10/07	473,958	10/14	468,711	10/21	468,158	10/28	482,578
2016-Nov	11/04	485,010	11/11	490,284	11/18	489,029	11/25	488,145
2016-Dec	12/02	485,756	12/09	483,193	12/16	485,449	12/23	486,063	12/30	479,012
2017-Jan	01/06	483,109	01/13	485,456	01/20	488,296	01/27	494,762
2017-Feb	02/03	508,592	02/10	518,119	02/17	518,683	02/24	520,184
2017-Mar	03/03	528,393	03/10	528,156	03/17	533,110	03/24	533,977	03/31	535,543
2017-Apr	04/07	533,377	04/14	532,343	04/21	528,702	04/28	527,772
2017-May	05/05	522,525	05/12	520,772	05/19	516,340	05/26	509,912
2017-Jun	06/02	513,207	06/09	511,546	06/16	509,095	06/23	509,213	06/30	502,914
2017-Jul	07/07	495,350	07/14	490,623	07/21	483,415	07/28	481,888
2017-Aug	08/04	475,437

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