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 are near maximum capacity and therefore a price collapse is imminent. (Although Goldman Sachs did some backpedaling on their forecast this week). The argument goes something like this: US running out of room to store oil; price collapse next? “The U.S. has so much crude that it is…

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via OilPrice.com Daily News Update http://ift.tt/1Cd3eV2

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