The question has been for some time now been, is the excess inventory from oversupply or under demand? In turn this begs another question and that is why would producers be consistently oversupplying the market, when all that "dead" excess inventory represents expenses and no profits.
So one must deduce logically that the problem is under demand and they are simply producing to the max to both garner as much revenue as possible and to hopefully see a rebound in demand at some point.
All of which validates the Etp and its contention that demand will be inexorably falling in conjunction with a withering oil industry. Hence the oil price refusal to increase and conversely continues to decrease