Not sure, hard to find those numbers but they are touting 21 days in reserve based on current demand. I think its a joke too, more than likely a few funds did not roll over contracts into the new month because of the exodus form oil. A lot of money flowed out because of the attack by the likes of Bernanke, Paulson and regulators that targeted the market. Wall Street may be bullish oil and bearish financials, but the government is bullish financials and bearish oil and you have to follow the guys who print the money right??? Employment and GDP reports start tomorrow. The big hit will be on Thursday.
Government Reserves; 101.9 million barrel strategic reserve
Available:
---Zhenhai, Zhejiang Province. 52 storage tanks with a capacity of 33 million barrels, filled as of December 2007
---Zhoushan, Zhejiang Province. Approximate planned capacity 33 million barrels, currently 7.6 million barrels filled as of June 2007.
Planned:
---Dalian, Liaoning Province. Approximate planned capacity 19 million barrels, planned completion 2008.
---Qingdao, Shandong Province. Approximate planned capacity 19 million barrels, planned completion 2008.
Enterprise Reserves; 209.44 million barrel strategic reserve
---All under construction
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