Posted on 03/23/2020 10:22:05 AM PDT by Oatka
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.
That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the coronavirus outbreak has destroyed oil demand and international prices have lost more than half their value compared with the start of the year.
(Excerpt) Read more at gcaptain.com ...
Wonder when Trump and Pompeo are going to give Mohammad Bin Salman Al Saud a hard lesson in diameter diplomacy?
Wow. So much is happening so fast now that it’s easy to believe we won’t recognize our world next month...
Boo yah!
I like redshawk’s idea of turning the place into hot glass. :-)
Never start a commodity war during a pandemic unless it’s the cure. Dumb sand fleas are too stupid. 75 IQ idiots with money. Doesn’t make the smart because they are rich.
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