Roger H

Is Oil a Bubble? Part Two

From teh article:

"demand for petroleum index futures has increased by 848 million barrels."


One thing I am wondering is:

This oil that speculators are buying - it has to be stored somewhere - correct? After the futures contract closes, the oil that is produced has to go somewhere. Where is all this black goop? Who is hording this stuff? What do they do with it?

Thanks.