“People are getting notices from pipeline companies that say they can’t take their crude anymore. In Russia, one of the world’s top producers, the industry is considering resorting to burning its oil to take it off the market, sources told Reuters. Next week will bring earnings reports from the world’s largest oil companies including Exxon Mobil Corp, BP PLC and Royal Dutch Shell PLC. “The global climate is terrible,” said one person close to a Western oil company in Venezuela. That accommodation can no longer be made with the world running out of space to put oil.

Source: Dhaka Tribune April 26, 2020 12:11 UTC