US oil storage to hit its limit by mid-May ...United Arab Emirates

By mid-May, US commercial oil storage units could be completely filled if drillers don’t scale back production amid the largest oil glut the world has ever seen. By many accounts, EIA crude oil forecasts appear tame compared to what other independent analysts are predicting, and the deal-no-deal that has so far come out of Thursday’s virtual ‘OPEC’ meeting won’t offset anyone’s predictions. The EIA expects global liquid fuels inventories to increase by an average of 3.9 million b/d in 2020 compared to 0.2 million b/d decline in 2019. The agency expects inventory builds to be highest during the first half of the year as the world conti

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US oil storage to hit its limit by mid-May ...United Arab Emirates

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