World running out of places to store crude oil…

The major oil producers Russia & Saudia Arabia refused to lower production rates. This increase in supply resulted in oil prices dropping to as Low as US$30/barrel. With Covid-19 resulting in many countries issuing travel ban and stay-home advice, demand tanked. This double whammy is now further aggravated by the fact that there is nowhere to store the crude oil. So what’s next? Check out this article…

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