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Old 04-13-2020, 09:18 AM   #5170
Fuzz
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Back on march 25th, "the world is estimated to have 0.9-1.8 billion barrels of spare storage capacity". So until May, if there is 30 million excess production per day, that fills 900 million. In the best case scenario that buys 2 months. Lets say OPEC actually cuts 10% in May, so that buys you an extra week or 2. By mid June, there will be no storage left. Then what?


https://www.reuters.com/article/glob...-idUSL8N2BH3AM
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