Have a look at this data and tell me if you think the concerns are overblown.
1. EIA report Sep 30, 2014 - Cushing stocks listed at 17,680,000 - (of note is that this equated to 25% of capacity)
Source: http://www.eia.gov/petroleum/storagecapacity/table1.pdf First
2. EIA data as at 30 March 2015. Cushing stocks were 58,900,000. Capacity = 4x17.6 or approx. 70 million. Just 11 million to go...yesterday added another 169,000 barrels.
Source: http://www.eia.gov/petroleum/supply/weekly/pdf/table4.pdf
Add to that Reuter's interpretation:
Surprise pause in Cushing oil stock rise likely blip, not trend
Source: http://www.reuters.com/article/2015/04/06/us-oil-inventories-cushing-idUSKBN0MX1JS20150406
The Perfect Storm for Oil, page-58
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