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Caution: Prepare for the Oil Crash Impact on Stocks and Beyond!

The oil market is experiencing a historic collapse, with prices hitting their lowest levels since 1946. This drop in prices was initially caused by a price war between OPEC nations, including Saudi Arabia, Russia, and the US. Despite a recent agreement to cut production, prices continue to plummet. The US, which praised the deal, is now facing the consequences as its oil production must be cut by almost 2 million barrels per day. Additionally, the US is struggling to store its own oil and has been taking in large shipments from Saudi Arabia. This situation is causing significant pain for the US oil industry.

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