A report suggests that by the end of the year nearly half of all oil pipelines from the Permian basin will be empty because of the coronavirus pandemic and the effect it had on the oil and gas industry.
By the fourth quarter, total utilization of the largest oil pipelines from the Permian is expected to drop to 57%, consultancy Wood Mackenzie said. The nadir during the last market bust in 2016 was roughly 70% according to a report by Reuters.
Click here for Reuters story.
