Cushing Is Approaching The Operational Floor
Faster than the paper market is priced for. Four to five weeks of buffer at current draw rates.
The EIA Weekly Petroleum Status Report Cushing total stocks print for the week ending July 24 came in at 18.599M barrels. Recent weekly draws are running 700K to 800K. The Renegade Resources operational floor is 16M. Straight-line math: four to five weeks.
We are going to walk you through how we got there.
