RE:If
the supply demand imbalance is gone, otherwise you are right why are inventories not rising. There is still an inventory glut, but it is slowly dwindling. Even if GS is correct about it being 400k barrel supply glut, that is nothing considering daily consumption is 95m. Only if Libya, Nigeria and Venezuela solved all their issues would we have a significant surplus - possible but unlikely. I think it's reasonable to assume there will always be supply disruptions.