What's to quibble about on such a simple graph? Stockpiles are currently high (green column next to the vertical dotted line) but predicted to fall in coming months, no doubt due in part to the NH winter. Yes, in the last few months production has exceeded consumption, thus increasing stock piles, once again that is in the run-up to peak winter season- but may also explain the recent drop in oil price.

In terms of geo-strategic energy flows, certainly involving Putin, the main thing of interest is that Russia has rapidly become a major energy supplier to China.