Saffie

Oil's Supply and Demand

Ok guys I am a neophyte so please tell me whether I am correct. If one want's to find out what the speculators are doing then one looks at the CBOE and specifically the CRUDE OIL open interest. Now if one finds that most speculators s are long we can then blame them BUT what if most speculators are short? If they indeed are SHORT then we cant blame the specs or am I daft?