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The Most Ominous Warning That Oil Storage Is About To Overflow Has Arrived
The Most Ominous Warning That Oil Storage Is About To Overflow Has Arrived It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut. “Even the highly adaptive US storage system appears to be reaching its limits,” we wrote, before plotting Cushing capacity […]
BP’s Stunning Warning: “Every Oil Storage Tank Will Be Full In A Few Months”
BP’s Stunning Warning: “Every Oil Storage Tank Will Be Full In A Few Months” It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut. “Even the highly adaptive US storage system appears to be reaching its limits,” we wrote, before plotting Cushing […]
2016: Oil Limits and the End of the Debt Supercycle
2016: Oil Limits and the End of the Debt Supercycle What is ahead for 2016? Most people don’t realize how tightly the following are linked: Growth in debt Growth in the economy Growth in cheap-to-extract energy supplies Inflation in the cost of producing commodities Growth in asset prices, such as the price of shares of stock […]
Oil Prices Down As Storage Keeps On Filling Up
Oil Prices Down As Storage Keeps On Filling Up Happy Thanksgiving Eve! One hundred and forty-eight years to the day after Alfred Nobel patented dynamite, and the fuse has been lit for an explosion to the downside for the crude complex. After geopolitical tension was stoked yesterday, attention shifts back to oversupply today with the […]
Oil May Plunge to $20, Signalling Economic Disaster: “The Numbers Are Dreadful And Unprecedented”
Oil May Plunge to $20, Signalling Economic Disaster: “The Numbers Are Dreadful And Unprecedented” The price of oil has long been a key indicator of economic health and stability. And that index is tanking fast. In the last few years, dramatic overproduction of oil has become a major tool of geopolitical conflict. As prices have plummeted from […]
Oil Tankers Are Filling Up As Global Storage Space Runs Low
Oil Tankers Are Filling Up As Global Storage Space Runs Low The rebound in oil prices is still not here, and new data suggests that it will take some more time before the markets start to balance out. Global supplies are still too large to justify a significant rally in oil prices. The latest indicator […]
Oil storage tanks filled to levels not seen in 80 years
Oil storage tanks filled to levels not seen in 80 years U.S. oil inventories at levels not seen in at least 80 years North American oil prices could take a hit this fall as there are renewed concerns about a lack of storage capacity. A recent report by the U.S. Energy Information Agency suggests crude […]
U.S. Oil Glut Story Grossly Exaggerated
U.S. Oil Glut Story Grossly Exaggerated Recently, I have noticed that oil storage & production data (and media hype for that matter) has disconnected from hard data. This has been occurring for many quarters now with the US economy statistics as well and appears to be the new world order where facts can be spun […]
The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out
The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out Less than two weeks ago we warned that based on the current oil production trend, the US may run out of storage for crude as soon as June. This is what we said back in early March when the BTFDers […]
The Truth About U.S. Crude Storage
The Truth About U.S. Crude Storage Despite the popular narrative that we keep hearing, the U.S is not running out of crude oil storage. Yet there are those who are predicting that oil prices are going to fall to $20 or $30 a barrel, pointing to the crude oil storage numbers and suggesting that we […]
US May Run Out Of Oil Storage Space As Soon As June
US May Run Out Of Oil Storage Space As Soon As June On Sunday, we noted that the economics of the floating storage play could spell further declines for crude prices. With a global stock increase that’s some 3 times larger than that which occurred during the last period of oversupply, expect cheap, on-land storage to prove […]
Oil Price Faces Another 20% Drop Due To Contango Math
Oil Price Faces Another 20% Drop Due To Contango Math Want to know where oil prices are headed? You need to understand the economics of the floating storage play, Soc Gen says. As we noted on Friday, retail investors looking to be the next Jed Clampett have piled into the U.S. Oil fund over the past several months, […]
