Oil Storage Shortage despite US Government opening Storage Facilities?

[Atikon]

Am I getting this right? The US Government assured that producers may store their Oil Barrels in the Storage Facilities of the US SPR not 18 days ago and they already full? That means all producer must have gone full autist and kept on producing right? The first one to quit won't survive? Peak Capitalism even in a Pandemic.

https://thehill.com/policy/energy-e...ration-to-rent-storage-space-to-oil-producers

 

[Turveyd]

Explains why i saw crude at $14 for a while, world is going beyond crazy.

 

[Bobbybax]

Am I getting this right? The US Government assured that producers may store their Oil Barrels in the Storage Facilities of the US SPR not 18 days ago and they already full? That means all producer must have gone full autist and kept on producing right? The first one to quit won't survive? Peak Capitalism even in a Pandemic.

https://thehill.com/policy/energy-e...ration-to-rent-storage-space-to-oil-producers

We all know that the Russians and the House of Saud are the world's premier capitalists.

 

[kmiklas]

Clearly, you didn't get the news about the latest Great Lockdown mandate: all those with swimming pools must drain and surrender them for use as a temporary oil storage facility.

 

[Turveyd]

Clearly, you didn't get the news about the latest Great Lockdown mandate: all those with swimming pools must drain and surrender them for use as a temporary oil storage facility.

Crude $ dipped into $5 I guess or near, LOL this is MADNESS!!