Economy 52,861 Posted December 7, 2015 Share Posted December 7, 2015 http://money.cnn.com/2015/12/07/investing/oil-price-below-38-six-and-a-half-year/ After OPEC failed to reach an internal accord to cut production, oil today dropped 6% in a matter of hours after trading started to $37/barrel approaching the lowest levels of the past decade Global Oil Storage now stands at 3 Billion barrels near full capacity and an all time record Most storage facilities are nearly full and the rented tankers that were used as a desperate move for more space are nearly all booked Companies are rushing to build more storage capacity or else very soon there will be no where to store the oil. Link to post Share on other sites More sharing options...
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