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PatrickO'Brian posted an update 6 years ago
This is a great question. I remember when there were tankers and tankers full of oil sitting offshore when the downturn started. Amazing that we’re now at a three year low.
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https://www.wsj.com/articles/what-happened-to-the-oil-glut-1523546157What Happened to the Oil Glut?A glut of stored oil that helped keep prices low for years is almost gone, thanks to production cuts by OPEC and Russia, a humming global economy and a series of small but meaningful supply disruptions.