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Crude Floating Storage Fell to Lowest Since March 2020

OIL

The amount of crude oil held around the world on tankers that have been stationary for at least seven days fell by 11% on the week to 63.54m bbl as of 13 October, the lowest level since March 2020, Vortexa data show, cited by Bloomberg.

  • Asia Pacific down 25% w/w to 29.84m bbl; lowest since February 2020
  • West Africa down 20% w/w to 8.34m bbl
  • Middle East up 31% w/w to 6.29m bbl
  • Europe down 25% w/w to 2.07m bbl; lowest since February
  • US Gulf Coast up 98% w/w to 1.10m bbl

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