My Oil Price Forecast Shows Why Crude Supplies and Imports Are Rising
April 07, 2016 at 05:00 AM EDT
U.S. crude inventories are sitting at record highs of around 2.05 billion barrels right now. That's not a surprise. After all, there's a lingering global crude glut. But what's surprising - at first glance - are U.S. crude imports. They're up by close to 1 million barrels per day. The country took in 8.64 million barrels per day in the week ending March 25, compared to just 7.69 million over the same period a year ago. Therein lies what appears to be a paradox: Why on Earth would we import more oil when we may be forced to fill swimming pools with it soon? The answer is very simple, and it becomes clear when you see my oil price targets... Tags: Crude Oil Prices , oil news , oil price , oil price forecast , oil price news , oil price today , Oil Prices , oil prices 2016 To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post My Oil Price Forecast Shows Why Crude Supplies and Imports Are Rising appeared first on Money Morning - We Make Investing Profitable .