Check this out:
U.S. energy companies are producing so much crude oil these days that they are running out of places to store it.
“U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.2 million barrels from the previous week,” according to the March 20 weekly summary issued by the Energy Information Administration (EIA).
“At 466.7 million barrels, U.S. crude oil inventories are at the highest level for this time of year in at least the last 80 years,” the agency noted. The last time the U.S. had so much oil in storage was 1930.