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Physical Oil Market Tightens at Oil Output Cuts and Economic Recovery Take Place

Physical Oil Market Tightens at Oil Output Cuts and Economic Recovery Take Place

by Thanvir | May 21, 2020 | Benchmark Oil Price, Oil Price Reporting Agency

The physical crude oil markets signal a rapid shift from a huge oversupply at the peak of the coronavirus locks in April to an expected under-supply in the second half of the year. Brent’s six-week calendar spread shrank to less than 70 cents a barrel from more than $...

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