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Crude At Sea Highest Since 2020

OIL
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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.

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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.