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NRGD - Open Insights: EIA's Weekly Petroleum Report (11/15/19)
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN
We took a brief hiatus from our weekly series Open Insights to update our oil thesis, recently published here, but we're now back to looking at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of November 15, 2019.
EIA reported a fourth consecutive build this week to the tune of 1.4M barrels. Crude exports increased to 3M bpd, but this was largely because of prior crude exports showing up in the data (physical tanker tracking had exports much lower). So overall a bit of a catch-up this week. Refinery throughput finally climbed