Crude “Tipping Point” Arrives: China Runs Out Of Space To Store Oil
by Tyler Durden
ZeroHedge.com
10/28/2015
Something very unexpected happened: the world quietly hit a tipping point when, according to Reuters, China ran out of space to store oil. According to a senior trader familiar with Sinochem’s oil trading and cited by Reuters, the tankers “are both for SPR (strategic petroleum reserve), but no tank space is available to take that oil in.”
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