It appears there's an annual peak in storage that happens in late April / early May. IE right now.
So you guys probably aren't actually going to run out of storage space, if that storage pattern holds for this year.
US gasoline consumption is also at a record high, and US oil production is declining, all of which will draw down those reserves as the "summer driving season" ramps up.
Quote:
|
The Energy Information Administration says U.S. gasoline demand climbed to 9.2 million barrels a day in February, a record for the month. Demand was 6.4 per cent higher than a year ago, making it the largest 12-month percentage increase in nearly four decades.
|
Source:
A record month of U.S. gas guzzling