U.S. Oil Storage To Hit Its Limit By Mid-May

By many accounts, EIA crude oil forecasts appear tame compared to what other independent analysts are predicting, and the deal-no-deal that has so far come out of Thursday’s virtual ‘OPEC’ meeting won’t offset anyone’s predictions.  The EIA expects global liquid fuels inventories to increase by an average of 3.9 million b/d in 2020 compared to 0.2 million b/d decline in 2019. The agency expects inventory builds to be highest during the first half of the year as the world continues to grapple with a serious…