Here’s Why Rising U.S. Oil Supplies Aren’t Overflowing Tanks
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It looks like there’s more space to store oil in the U.S. than previously thought.
The Energy Information Administration pegged crude storage capacity at refineries and tank farms in the U.S. at 521 million barrels at the end of September. With inventories rising 8.4 million barrels last week to 434 million, it may appear at first glance as though supplies from the shale boom are on a collision course with tank tops.