The world has run out of places to store oil.
“Rystad Energy estimates there may be only 21 million barrels’ worth of free storage left in a country still producing 12 million barrels of oil a day — a feature certain to keep prices low,” reports The Hill.
“The market is very concerned about a repeat of negative pricing as the Cushing storage and delivery hub saturates,” added Harry Tchilinguirian, global oil strategist at BNP Paribas in London, as quoted by Reuters.
As a result of suppl...
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