April 13, 2023 09:18 GMT
Crude At Sea Highest Since 2020
The volume of crude oil on tankers at sea has increased to 1.27mbbls last week and the highest since 2020 according to Vortexa data.
- The data shows crude volumes floating at sea and enroute to a destination with Russian crude travelling longer distances to find new buyers and Europe sourcing supplies from further afield. The volume at sea has increase almost 230mbbls since August.
- The volume could start to reduce again with tighter global supplies following OPEC production cuts starting next month.