Month: March 2020

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Pipelines Ask U.S. Oil Drillers to Curb Output as Tanks Fill Up

March 28, 2020 admin Comments Off on Pipelines Ask U.S. Oil Drillers to Curb Output as Tanks Fill Up

(Bloomberg) — American pipeline operators have begun asking oil producers to voluntarily ratchet back their output in the clearest sign yet that a growing glut of crude is overwhelming storage capacity.Plains All American Pipeline LP, one of the biggest shippers of crude in the U.S., sent a letter this week asking its suppliers to scale back production. The notice came from the company’s marketing unit that buys and sells oil to customers. A Texas oil regulator said Saturday that drillers were getting similar notices from pipeline operators.The messages signal the oil market is fast approaching the moment traders have been …read more […]

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Mark Cuban Says 3M Not Doing Enough to Keep Face Mask Prices Low

March 28, 2020 admin Comments Off on Mark Cuban Says 3M Not Doing Enough to Keep Face Mask Prices Low

(Bloomberg) — Billionaire Mark Cuban has been trying to do his part to help hospital workers get more protective equipment, working with a non-profit group and delving into the market himself to find gold-standard N95 respirator masks he could buy for medical personnel.He uncovered something else instead. What he found poking around in that marketplace is leading him increasingly to believe that respirator maker 3M Co. is shirking its duty to keep prices low and get masks where they’re needed most during a national emergency. The problem, he says, is that 3M sells the masks through a network of resellers …read more […]