GREY:BXEFF - Post by User
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Finantialon Mar 17, 2015 7:36am
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Post# 23528589
Facts: 320 mil barrel stored vs 521 mil barrels capacity
Facts: 320 mil barrel stored vs 521 mil barrels capacity
Do that math. That is 61.4% for you all Wall Street that do not did good grades in math. Great info...thanks diesel80...here's the info from that article. It's clear that oversupply is just well as the Chinese proverb says "One dog barks at something, and a hundred bark at the bark. "The EIA reports that across the U.S., total crude oil working storage capacity was 521 million barrels as of last September, and as of March 6, approximately 320 million barrels of that volume was being used. (While the Weekly Petroleum Status Report currently lists crude oil inventories at 444 million barrels, the EIA states that about 120 million barrels of this is in pipelines, on ships, or oil that is locally stored and has not entered the supply chain.)"