A good article ruined by his last comment.

What impact does EIA's forecast of demand have to do with the market?  What is material to the market is actual data, and that data of late has been pointing to increasing builds in inventories, arguing that supply remains greater than demand, despite OPEC's attempted manipulation.

One other comment...

The large build in speculative length in crude is associated with a large net short position among commercial traders [read:  producers].  This is consistent with the net sum zero makeup of futures markets, and makes sense as shale producers hedge prices to lock in margins on new drilling.  The thing is, for producers to perfect their hedge, all they need do is produce the necessary barrels.  That is, producers have no reason to close their net short position... Not true for speculators.

Think $42/b.

C'est la guerre!