3 Years Of Painful Cuts Sets Oil Markets Up For Serious Supply Crunch
Green Car Congress
JUNE 1, 2016
That widens to more than a million barrels per day in both 2017 and 2018. To be sure, there are extremely large volumes of oil sitting in storage, which will take a few years to work through. That will prevent any short-term price spike even if depletion surpasses new production. The price acts as a self-correcting mechanism.
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