Oil to submerge below US$40 if price war drags on: Peter Tertzakian

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Millions of barrels of excess crude oil are weighing down tankers that are being filled from pipelines coming from fields where rows of overworked pump jacks are bobbing their heads up and down like spooked horses. Oil markets are spooked again, too. In the absence of output restraint – a return to some sense of prudent…

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