Funny you should mention that; the other day I was thinking about what soaring oil inventories meant for prices and here's what I found:
It would make sense that if sellers can't peddle what they've got in stock that they'd have to lower prices, but w/ oil the past couple months we've been having soaring stockpiles and rising priices. Looking farther back to June-Oct we see falling inventories with falling prices.
The oil market's just not all that tidy.