Well, I don't.
Whenever U.S. commercial companies buy oil from the U.S. Strategic Petroleum Reserve at auction, those barrels are subtracted from line three but are added to line two.
It's more complicated than that because some oil might be stored temporarily, or refined into other products which means it shows up on other lines, or it gets exported and shows up there.
The point is sales from SPR distort the U.S. picture, IF those sales are purchased by U.S. commercial companies.
And for March through early July, U. S. commercial companies have purchased AT LEAST 52 million barrels from SPR.
That has distorted the true state of U.S. commercial stocks from week to week throughout the period.
Meanwhile, speaking of distortions . . . where did they get the product for this?
White House touts launch of 25 Freedom Fuel gas stations
... “The FIRST Freedom Fuel Network gas station has LANDED in Philadelphia, lowering the price at the pump to $3.47 for our 47th President,” the White House wrote on the social platform X on Tuesday. ... Twenty of the stations are located in Pennsylvania, while five are in New Jersey, according to the Freedom Fuel network’s website. A White House official told The Hill the Freedom Fuel Network is a private company and did not receive subsidies from the administration. ...
