If you haven't had enough of oil, OPEC (and then MOAR oil, OPEC) here's something from Reuters on the stuff
- Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years.
- Supplies have remained stubbornly high for months
- But traders interviewed said seasonally unusual spring drawdowns in the United States, record refining runs, and big exports to Asia and Latin America as signals that sharp declines in crude stocks could be coming.
I'll have more clever ideas for your oil storage problems in coming posts!