IEA warns that the U.S. is going to run out of storage soon, at which point somebody, somewhere, is going to have to stop pumping.
Oil prices are tumbling back towards the six-year lows that they hit in January after more signs of the U.S. economy weakening and a new report suggesting that the rout at the end of last year still hasn’t had a meaningful impact on U.S. shale oil output. Continue reading “Oil is back in the doldrums as the IEA warns of glut”