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This news story came recently to my attention : It is highly misleading since crude oil storage capacity utilization is not that high as can be seen at with over 100 million barrels still being available in Cushing and the Gulf Coast alone. The analyst also gets the total available storage capacity wrong with the correct value being over 650 million barrels rather than 502 million barrels (figures available from - 178.8 million barrels at refineries and 472.6 million barrels at tank farms). Just an interesting point to note regarding the current news environment regarding oil.

I find it really odd that a respectable news outlet didn't make any basic fact checks and I am fairly sure that a chief investment strategist was not making such a highly erroneous statement through ignorance alone.
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