The world is on the brink of running out of places to put oil

The Business Times | Mar 27, 2020 at 12:00 AM
  • The world will run out of places to store oil in as little as three months.
  • The oil market has been hammered by falling demand as a result of the coronavirus outbreak, and as Saudi Arabia vows to flood the market with crude at deep discounts, following the collapse of the coalition of the Organisation of Petroleum Exporting Countries and allies including Russia.