US hit another post-1973 oil production record and oil storage space is shrinking worldwide

US crude oil production hit another post-1973 record with 9.213 million barrels per day.

Oil storage space is shrinking in the US and Europe as USA and Saudi Arabia and OPEC are not cutting back on production.

Oil tankers are once again being heavily used to store crude oil by oil traders who are counting on a bounce in oil prices.

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