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Canada braces for oil cuts as storage nears limit

(Source: Oil Price, March 24, 2020)

LONDON — The Covid-19 virus and the ongoing oil price war have created such a large global supply surplus that Western Canada’s oil production will need to be cut from April by some 11%, or 440,000 barrels per day (bpd), Rystad Energy estimates, as the country is days away from running out of available storage capacity.

Full story: www.oilprice.com

Wednesday, March 25, 2020

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