Apr
08

Petroleum Problem

The profoundly ill-timed oil market price-war between Saudi Arabia and Russia has not only pushed oil prices to twenty-year lows but is also pushing up storage costs. The current elevated production rate combined with depressed demand means storage facilities will run out of space by early August. Unless supply soon dramatically falls, and it will, prices will turn negative once storage space is exhausted.

Share This Post
Facebook Twitter Email

Speak Your Mind

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.