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QP - The Week in Crude Oil Markets - April 20, 2020
Front-month WTI futures settled at $18.27/bbl on Friday, an 18-year low. Since then, WTI has fallen to uncharted negative territory as futures converge with spot prices close to expiry. The unprecedented contraction in global oil demand threatens to fill all available storage capacity in the US, and shut-ins are already beginning to materialize. Last week the North Dakota Industrial Commission reported that 4,600 wells in the state have stopped producing since the beginning of......
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