What an Oil Supply Bust Looks Like

In the Economist this week - $20 is the new $40:

"It adds that storage at Cushing, Oklahoma, which can hold 73 m barrels, is at record highs of 64 m barrels.  Brian Busch of Genscape, an industry data gatherer, says it's a similar story in China, with ships carrying oil spotted waiting to anchor out at sea because storage tanks appeared to be full. Based on the high level of stocks, Mr. Busch thinks it could take up to a year and half before the ber market ends.  The only certainty is, the quicker oil price falls, the sooner the day will come."