The Oil Drum | This Week in Petroleum 1-16-08

33 comments on This Week in Petroleum 1-16-08

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billyt on January 16, 2008 - 5:37pm

what does rebenchmarking mean?

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Leanan on January 16, 2008 - 7:15pm

As I understand it...the weekly numbers are basically just a guess. They call people up and ask "How much do you have?"

Geko45 at Peakoil.com explained it this way:

The weekly report is compiled from a survey of a subset of the industry. As such, it is subject to a margin of error (as are all surveys). I do know that once a quarter they attempt a more in depth "recalibration" to try and ensure they don't drift to far from reality.

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33 comments on This Week in Petroleum 1-16-08

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