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DJ

US Oil Glut this time

Doyle Johnson in Oil (General)

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Doyle Johnson    + 14

DJ

The US Glut this time is more shallow than the 2016 Glut. As of last week the EIA reported  US crude storage of about 440,000 MB, as I recall the the 2016 Glut was about 550,000 MB ( correct me Tom) not sure of the exact amount. Assuming OPEC/Russia does cut 1.2/1.4 MBD along with the banks already uneasy about more shale financing plus unprofitable strippers being shut down. The Glut this time should be much, much shorter than 2016. I am trying to hold out! Help!

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