The U.S. is pumping oil faster than at any time since 1972, and storage tanks are getting filled to the brim.
U.S. oil production rose for the fourth consecutive week, to a rate of 9.3 million barrels a day, even as oil-drilling rigs are being idled at an unprecedented rate. U.S. inventories also rose, for the eighth consecutive week, jumping 2.4 percent to 444 million barrels, the U.S. Energy Information Administration reported today. See: The US is pumping even more oil and storage tanks are getting filled to the brim
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