Oil slides amid worry that production cuts not enough to lift demand
Crude falls on signs storage is filling rapidly, raising the concern that production cuts will not be fast enough to offset the collapse in demand
27 April 2020 - 10:09
Singapore — Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising the concern that production cuts will not be fast enough to fully offset the collapse in demand from the coronavirus pandemic.
US oil futures led losses on fears that storage at Cushing, Oklahoma, could reach full capacity soon. US crude inventories rose to 518.6-million barrels in the week to April 17, near a record of 535-million barrels set in 2017...
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