The dreaded surplus is only 3 days’ production
Global oversupply in the oil market has almost become a curse word in the oil and gas industry. Since the OPEC decision to maintain output levels on November 28, 2014, the industry has seen storage numbers rise and commodity prices fall.

Increased U.S. production and a global battle for market share have been largely blamed for the oil glut. Since the beginning of 2009, U.S. oil production has almost doubled according to numbers from EIA. This has displaced oil that had been imported from place...

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