The most recent report on the U.S. oil market offers a mix of data, providing ammunition for both oil bulls and bears alike. One can find whatever they want in the data. Looking for signs that the oil market is moving towards balance? There’s a strong inventory decline for you. Worried that the market is still woefully oversupplied? Yep, there is also data to back up that conclusion – another week of strong production increases. Casual market watchers can be forgiven for being confused by the varying perspectives on the same data release. For example, two headlines from the same news outlet, The Wall Street Journal, highlight how interpretations of the health of the oil market can vary depending on the focus. Following the release of the EIA data, the WSJ reported: “ Oil Rises on Bigger-Than-Expected Inventory Decline .” But early the next morning, another WSJ article reads: […]