Random Post On PADD Capacity -- March 8, 2015

Over the next few weeks, we are going to hear more and more stories (especially on CNBC) that "Cushing has reached full capacity." Those betting on (hoping to profit from) lower oil prices will be particularly vocal.

Others have been saying "the bottom (for the price of oil) is in."

So, there's going to be a media "tug of war" -- the price of oil has at least another leg down when Cushing reaches full capacity vs the price of oil has bottomed; it is in a trading range, but will gradually trend up.

Is the oil glut a myth?

Storage capacity by PADD:

This data is released twice a year. The September, 2014, data was released November 26, 2014, so I assume the March, 2015, data will be released around  May 26, 2015, just before Memorial Day and the beginning of the US driving season.

Cushing, Oklahoma, is in PADD 2. 

There are a number of story lines in the simple bar graph above.