The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out
by Tyler Durden
ZeroHedge.com
03/21/2015
At the current rate of record oil production, storage will be exhausted in under two months, some time in mid-May. At that point, with no more storage to buffer the record oil production, the open market dumping begins and prices of WTI will crater as every barrel will have to be sold at any clearing price, since the producers will have no other choice than to, literally, dump the oil. In other words, a perfect storm is shaping up for oil some time in late May, early June. And then we learned something even more startling.
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