Cushing Is Denying Storage Requests: Some Troubling Data From Genscape And Goldman

Thursday, February 18, 2016
By Paul Martin

by Tyler Durden

Yesterday, one of the best-known providers of energy market intelligence thanks to its massive private and patented network of land, sea, and satellite monitors, Genscape, held a webinar titled the “Current state of the global oil market” in which it covered all the core aspects that investors in the oil space find concerning, among which the following:

Global oversupply of oil
OPEC’s dilemma with Saudi Arabia keeping up pressure to not cut production
North American crude oil production forecast
Impact of sustained weakness in crude oil prices on U.S. production
What does the decline in U.S. production mean for the storage glut and refinery supply?
U.S. oil storage
Cushing, OK, storage record-highs in April 2015 and January 2016
Where will the crude oil go?
Expectations for additional storage coming online

While some the key topics discussed focused on the most followed issue, namely total US supply and commercial oil stocks, which as can be seen are now at a record high and rising…

The Rest…HERE

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