Oil storage at 85% capacity and still 20mill odd bpd oversupply being pumped out of the ground as no producer wants to stop pumping. Looks like US oil industry has to stop pumping soon. That will put a lot of credit at risk and a lot of people out of work. With futures contracts still being bought it looks like production will continue until the whole thing stops abruptly. ie neg futures prices on way forward contracts?
No wonder countries are trying to reopen. Wonder if any govs are being pressed by the energy industry to hurry it up?
Oil storage at 85% capacity and still 20mill odd bpd oversupply...
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,629.0 |
Change
42.000(0.55%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,587.0 | 7,640.2 | 7,587.0 |
| XJO (ASX) Chart |