The build up of inventories was forecast by T Boone Pickens
"In the last 30 days they've dropped 300 rigs…. You're gonna reach an all-time high on the inventory of oil, and it will be reached within the next six weeks, and then it will start to decline."
http://www.cnbc.com/id/102364314
Oil Prices Higher After Heavy Losses
Wall Street Journal - 18 mins ago
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