Agree 2C ...

I've been considering on and off the millions of barrels of oil stored on tankers, wondering why the oil in reserve has been increasing, yet the price of oil has also been increasing. Apparently it's somewhat relative, as the gasoline inventories were reported lower than a year ago, but still ...

Possibly the market just over-corrected?

At any rate, thoughts have also been along the lines that the huge amount of reserves should ameliorate the coming supply crunch to some extent.

-bbq