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Petromania: Black gold, paper barrels and oil price bubbles by Daniel O'Sullivan

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3: The Financialisation of Oil

‘Most frustrating for oil analysts is the lack of transparent data to look at the exact size and flows of the different categories of players on the oil markets. The data released by the CFTC does not allow analysts like me to understand the broad movements by the financial players in the market. The categories used by the CFTC are too broad and are meaningless if you allow the index funds to be categorized as commercials and if you don’t break down these categories in smaller and better defined entities. I find it ironical that we constantly require more data transparency from the OPEC producers, be it on their production or reserve data, but we cannot manage to do the same in our own backyard on one of the ...

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