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Introducing Fracklog, the new-fangled oil storage system

2015-03-06 08:18:30| Oil & Gas - Topix.net

Oil drillers expecting prices to rebound after the biggest drop in six years have come up with an alternative to storing their crude in tanks: They're keeping it in the ground. It's a new twist on an old oil trading technique, known as a contango storage play, in which a trader buys cheap crude in an oversupplied market and saves it to lock in profits at higher future prices.

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