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Oil prices seem to have bottomed out as countries run out of places to store it. With demand bottoming out and a continuing increase in supply, here is exactly what’s happening in the markets.
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Russia and Saudi Arabia are in a competition to see who can put the other’s oil industry out of business. The pain of this competition has expanded to every country that exports oil including the United States whose crude oil industry has taken a huge hit. Here’s what’s happening and what major oil entities are doing about it.
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