After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks.
Investors hailed the drawdowns as the beginning of the end of a two-year supply glut – raising hopes for steadily rising per-barrel prices.
It hasn’t worked out that way. Read More…
Latest posts by dnaindia.com (see all)
- RInfra to consolidate transport businesses – June 23, 2017
- Big Oil turns to big data to save big money on drilling – June 23, 2017
- NSDC, Schneider Electric to set up labs, centre of excellence – June 21, 2017