Toggle light / dark theme

The world could soon run out of space to store oil. That may plunge prices below zero

Posted in transportation

The world’s thirst for oil has evaporated.

Highways are empty. Planes are grounded. Factories are dark. The unprecedented collapse in oil demand has sent crude crashing to 18-year lows.

Supply, on the other hand, remains largely resilient amid a price war between Saudi Arabia and Russia. US producers don’t want to be the first to blink by turning off production.

Leave a Reply