Another EIA weekly oil storage report and another horrible implied oil demand print. The data is so bad as to make even the most bearish person question the authenticity of the data. {chart} Here is a chart of the 4-week average implied weekly oil demand for gasoline, distillate, and jet fuel. As you can see, EIA's weekly data is pegging this to be close to 2020. While we always urge readers to be as empirical as possible, there comes a point when the data is just too glaringly obviously incorrect. This is a chart of the monthly oil demand data for gasoline, distillate, and jet fuel. {chart} For the time being, we ... (full story)