Oil industry may fill global storage in months as record glut builds

Thu, Mar 19, 2020 - 6:10 AM

The oil market could see a record supply surplus in April as coronavirus wipes out demand and big producers pump more, creating a global glut that threatens to overwhelm storage capacity within months and force widespread industry shutdowns, analysts said on Wednesday.

PHOTO: REUTERS

[LONDON] The oil market could see a record supply surplus in April as coronavirus wipes out demand and big producers pump more, creating a global glut that threatens to overwhelm storage capacity within months and force widespread industry shutdowns, analysts said on Wednesday.

Crude is...

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