SHOOT: I admit to be one of these 'investors' betting that global demand will roar back. Not because I believe the recession has reached the bottom, nor because oil supplies are plentiful. I believe the market wants to believe that the recession has reached the bottom, and this might spark a temporary pseudo-recovery. If that happens there may be a little money to be made. All of the rallies that follow now are ultimately sucker's rallies, because the overall picture is permanent contraction. Good luck.
"If we run out of storage it could prompt a collapse in the price," says Wardell. Oil producers might then choose to dramatically cut output in order to run down the surplus. (See pictures from Azerbaijan's oil boom.)