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Crude in Floating Storage to Highest Since Oct

OIL

The volume of crude oil in floating storage increased to the highest since Oct. 22 at about 56mbbls on Feb. 13, according to Kpler.

  • Volumes from Russia have seen a strong increase this year from a weekly average of 3.6mbbls in 2023 up to 14mbbls.
  • Approximately 15mbbls of the total is from Iran while crudes originating in Venezuela, Brazil and Ecuador each account for 3m-4mbbls of the total.

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