Oil Climbs As U.S. Pushes For An End To The Price War
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Oil prices continued to rise for the third day in a row, recovering earlier losses as U.S. lawmakers pressure Saudi Arabia to end the oil war.The ongoing oil war, in which Saudi Arabia and Russia are the key players, has exacerbated the already tremendous glut in oil markets, and demand destruction could end up reaching 15-20 million bpd in April.According to Russell Hardy, Vitol’s chief executive, the supply overhang could end up filling storage tanks at a very high pace as India, with the world’s fastest-growing oil consumer now facing…
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