Very interesting report Maybe the price increase is caused by a lowering rate of accumulation following production cuts . I must admit i was surprised the price of oil stood it's ground following last OPEC meeting 2 week-ends ago .

"Maybe" when accumulated stocks disappear whenever that is OPEC won't jump like a rabbit to increase production, and will rather push price up , let's say around $75 bucks... Was'nt that Saudi's wish at the end of last year ?

Maybe we'll get there before year end , my unsophisticated guess would be around next fall.