It's during the next two months that onland crude oil storage at Cushing and other sites will be maxed out, according to several recent articles from Platts, CNBC, Bloomberg, and others, most likely leading to what one analyst called a "violent" downward move by oil. That's why those voices at EIA, Citi, Goldman Sucks, and elsewhere have been calling for $30 or $20 WTI oilprices before they can authentically rebound higher..... the production glut is a SERIOUS issue.
According to these folks, it's only that kind of "trauma" that will "throttle" oil production sufficiently to bring supply and demand into better balance, but these folks say that won't occur for at least several more months.
It's for these reasons that i think it's premature to be buying any names in the energy patch.
But having said all that, congrats to those holders who saw PFIE's s/p bounce up from the morning low.
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