The Officials: Data is Conflictive | S1 E5

World of Oil Derivatives

The Officials are back to discuss the latest market developments in the past week. You can also read The Officials latest report What goes up must come down, says wise ops guy here; https://www.onyxhub.co/news/all/the-officials-what-goes-up-must-come-down-says-wise-ops-guy/
This week, the API showed crude inventories going up by 5.2/million bbl. Upon the APIs release, there was almost no reaction in flat price to the huge inventory drop. As the market received this 'bullish' inventory data the market did nothing at all. Jorge asks, was that the right decision or the wrong decision? But then the EIA released data showing a 'bearish' 1.36 million bbl increase, and then the market fell by 30 cts in two minutes. So, what is the data to trust? Who from and when?
But other data is equally conflictive and companies are making important decisions on data that seems faulty.
We hope you enjoy our fourth episode of The Officials, a new show from the team behind Onyx’s Benchmark Publication and helmed by Jorge Montepeque, the architect of benchmarks and services that shape our world today, with guest speakers Vincent Wu and Will Cunliffe.
Jorge Montepeque https://www.linkedin.com/in/jorge-montepeque-38410bb6/

Vincent Wu https://www.linkedin.com/in/vincent-wu-099816125/

Will Cuncliffe https://www.linkedin.com/in/will-cunliffe-45899a182/