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Adjustment factor cited for drop in US crude inventory

6.2m barrel fall could also be due to ongoing production and supply chain issues, says Citigroup

The adjustment factor, similar to a margin of error, reflects combined uncertainty around crude oil data elements used by the EIA to balance supply and demand.

New York

THE large weekly draw in US crude inventory data that sent oil prices surging and left traders scratching their heads can be mostly attributed to timing, as well as a large swing in the "adjustment" factor, analysts said on Wednesday.

Earlier, the US Energy Information...

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