RE:RE:RE:RE:RE:RE:RE:Cushing running lowIf you ever decide that you want to be a physical trader of liquid products , you need to consider ullage. Simply available tank or vessel space to store or transport your product. I am happy to say that two of my former students remembered my lessons on ullage . They now run BB Energy and are the proud holders of the World's lowest oil price record. FYI I formed BB energy Canada in 1989. It started out as a monumental flop, then took a turn for the worse as my backers wanted me to venture into a long list of illicit activities. I left but was able to find success elsewhere. My students were the backers nephews. They now run the company and I wish them continued success !! I just hope they stopped those other activities !!
Pandora wrote: Oldnagger wrote: Cushing barrels are normally held by either commodity traders or independent producers who do not have refinery storage options . So the good news for Canadian producers is that there is plenty of ullage, which means they can hold barrels for later if they feel the market will get stronger. Strengthens our hand for negotiations with the end users !!
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPC0_SAX_YCUOK_MBBL&f=W
Hmmm, a new word for me "ullage"
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the amount by which a container falls short of being full.
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loss of liquid, by evaporation or leakage.