If consumption outpaces production, who’s oil is not being purchased?
No the point was that if the Saudi’s cut production, someone else would pick up the slack and the Saudi’s would get hit both on the lower price and the lower market share.
Stocks grow, for a time at least...
Record Oil Tankers Sailing to China Amid Stockpiling Signs
http://www.bloomberg.com/news/2014-12-12/record-oil-tankers-seen-sailing-to-china-amid-stockpiling-signs.html
I meant the reverse. If production exceeds consumption someone is storing oil that is unsold to a final buyer. The sellers would seem to be courting buyers. The least friendly, least into long term purchase agreements, more remote producers would seem to be the ones needing storage. I’m just wondering who those might be.