Oil at Sea Climbs to New High on Rising Supply, Longer Voyages

Oil's Billion-Barrel Sea Surplus Expands as Output Swells

A flotilla of crude oil on the world’s oceans expanded to a fresh high as producer nations keep adding barrels and the tankers sail further for deliveries.

Oil at Sea Climbs to New High on Rising Supply, Longer Voyages

A flotilla of crude oil on the world’s oceans expanded to a fresh high as producer nations keep adding barrels and the tankers sail further for deliveries.

Oil’s Billion Barrel Sea Surplus Expands

Vortexa’s figures exclude oil in floating storage, defined as oil stored on stationary vessels for at least seven days. by Bloomberg, via RigZone.com|Julian Lee| A flotilla of crude oil at sea expanded to a fresh high as producer nations added barrels and the tankers sailed further for deliveries. According to data from analytics firm Vortexa, 1.24 billion barrels of crude and condensate, a light form of oil recovered from gas fields, were moved…

A record 1.24 billion barrels of oil is flooding the oceans. More than oil tankers, they're floating storage facilities. - Economic Scenarios

A veritable fleet of oil tankers is plying the oceans, bringing the total amount of crude oil “in transit” to a new, impressive, historical record. According to fresh data from analytics firm Vortexa, as of October 17, a whopping 1.24 billion barrels of crude oil and condensate (a type of light oil recovered from gas fields) were traveling the world's seas. This figure is up from the already high 1.22 billion barrels the previous week. Industry …

Oil Prices Steady Amid Supply Surplus

Oil prices have remained relatively stable as investors consider indicators of a growing surplus in the market, ahead of upcoming trade discussions between the United States and China. Brent crude traded just under $US61 a barrel, following a 0.5 per cent decrease on Monday. West Texas Intermediate crude is holding near $US57 a barrel. Data from Vortexa indicates a significant increase in the volume of crude oil on tankers at sea, reaching a rec…

Oil’s Billion-Barrel Sea Surplus Expands as Output Swells - Energy News, Top Headlines, Commentaries, Features & Events

By Julian Lee A flotilla of crude oil on the world’s oceans expanded to a fresh high as producer nations keep adding barrels and the tankers sail further for deliveries. A total of 1.24 billion barrels of crude and condensate, a light form of oil recovered from gas fields, was moving on tankers in the ...