Not to long ago, we read about difficulties in the oil industry. On March 26th, the New York Times posts "The World Is Running Out of Places to Store Its Oil" as a result of the nearly global lockdowns.

Today, we read about an incredible accident while a ship names Wakashio leaks tons of oil into the sea. What do you think? Is this an accident, or did they manage to solve part of their storage problem?

After doing some light research, I found a person named Fielden (Director of Research, Commodities & Energy at Morningstar Commodity Data, Inc) making a statement in an article called ‘No place to go: Oil storage filling up amid collapsing demand, excess production’ (April 6th)

A snippet from the article; "I think we're going to see storage problems regardless," Fielden said. "It seems to be that extensive demand destruction is enough that basically even if we fill up the storage in an orderly fashion as it were, there still isn't enough.”

So. What happens when there is not enough storage space for oil? Where can it go if it can not be stored? Nowhere, right? If there is no storage, there is no storage, it has to be dumped.

if you have any valuable information that could further test, challenge or strengthen this topic please do :)

Links https://www.nytimes.com/2020/03/26/business/energy-environment/oil-storage.html https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/no-place-to-go-oil-storage-filling-up-amid-collapsing-demand-excess-production-57865154