April 20, 2020 – CTV News
Negative oil price plunge a short-term anomaly with limited impact: analysts
By: The Canadian Press Staff
CALGARY -- A Calgary energy analyst says the plunge by benchmark U.S. crude oil prices into negative territory for the first time on Monday is a short-term anomaly that likely won't have a lasting effect on Canadian producers…
Read the full article here: https://www.ctvnews.ca/business/negative-oil-price-plunge-a-short-term-anomaly-with-limited-impact-analysts-1.4904162
…Senior analyst Martin King of RBN Energy said storage at the Cushing, Okla., WTI trading hub is expected to hit capacity within four weeks.
"If you're a seller and you're desperate to get rid of the contract, you're willing to pay somebody to take it off your hands," he said.
