Crude Oil Storage
Posted: Wed Sep 21, 2016 12:58 pm
Everyone tends to focus on the total volume of oil in U.S. storage. Here is another stat that I think is more important.
On May 18, 2016 the U.S. had 33.7 days (based on average refinery draws) of oil supply in storage.
On September 16, 2016 the U.S. had 30.2 days of oil supply in storage.
With the current level of terrorist activity in the Middle East and North Africa, how much of the world's most important commodity should we keep in commercial storage?
On May 18, 2016 the U.S. had 33.7 days (based on average refinery draws) of oil supply in storage.
On September 16, 2016 the U.S. had 30.2 days of oil supply in storage.
With the current level of terrorist activity in the Middle East and North Africa, how much of the world's most important commodity should we keep in commercial storage?