Thursday, September 24th, 2020
Home » Tag Archives: Oil surplus

Tag Archives: Oil surplus

Oil Traders Snap Up Tankers in Sign Second-Wave Glut May Be Near

Oil tankers at sea

BLOOMBERG, SEPTEMBER 11, 2020 By Sheela Tobben and Javier Blas for Bloomberg – Some of the world’s biggest oil traders are getting ready for the possible resurgence of a coronavirus-induced glut of crude and fuels, snapping up giant tankers for months-long charters so that they can be ready to store excess barrels if necessary. The chartering spree is likely to alarm Saudi Arabia, …

Read More »

Oil Tankers Drag Out Sailing Times as Surplus Snarls Ports

Sunset over ocean. Tankers visible.

BLOOMBERG, MAY 7, 2020 By Brian Wingfield, Jack Wittels and Firat Kayakiran for Bloomberg — When the supertanker New Vigorous arrived at the port of Antifer in northern France last Saturday, it made a small bit of maritime history. The vessel, laden with 2 million barrels of crude, became the first in almost two years to make the voyage from Saudi Arabia to …

Read More »

Saudis May Re-Route Tankers if U.S. Imposes Crude Import Ban. (Good)

Oil tanker at sea

REUTERS, APRIL 22, 2020 By Jonathan Saul, Devika Krishna Kumar and Olga Yagova LONDON/NEW YORK/MOSCOW – Saudi Arabia is looking into re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the Kingdom, shipping and trade sources say. Some 40 million barrels of Saudi oil are on their …

Read More »