Despite the historic OPEC+ production cut deal, available oil storage capacity around the world is running thin as global oil demand continues to crumble amid lockdowns and travel restrictions in many countries. OPEC and its Russia-led allies promised to remove 9.7 million bpd from the market starting in May. But oil storage capacity may be full as early as in the middle of May, according to many analysts. In this unprecedented global oil glut, some sectors of the oil industry and some oil-producing countries and their national oil companies (NOCs) are set to fare better than others, petroleum economics and energy policy expert Michael Lynch writes in an article in Forbes . Like in every extreme market situation, there will be big winners and big losers while the oil industry is scrambling to stash crude oil and refinery products that no one really needs right now. Losers The OPEC […]