oil storage31 Mar 2020 20:15
the cost of oil storage has doubled recently making it even less viable to keep pumping in the US,the only sensible solution is for the US,OPEC,and Russia to curtail production because there is nowhere to store it, couple that with a weak demand due to the coronavirus we can see they need to sort their differences out quick time, after all, none of them can survive with oil at such low prices for long,capex will be cut to preserve cash which will result in reduced reserves going forward, all very damaging long term, time for them put their dummies back in their mouths,atb.