Oil storage filling up in Cushing… Bloomberg

November 20, 2020 by Jim Colburn Leave a Comment

Lucia Kassai and Andres Guerra, Bloomberg, point out that oil storage in Cushing, OK is filling up again getting close to levels seen in April when prices collaspsed… Here is their chart:

But the spreads don’t seem to be worried… CRG’s Andy Lebow points out that the market is expecting lower onshore production and higher runs (that is, Pad 2 could draw)… Here is the Dec/Jan WTI chart from CQG.com:

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