oil glut

Tuesday, June 13, 2017

A Laden Supertanker Sitting Idle a Sign of OPEC’s Struggle

By Laura Hurst and Javier Blas (Bloomberg) — If a single ship can capture the current state of the global oil, it’s the supertanker Saiq, floating idly

June 13, 2017
Total Views: 69

Friday, August 19, 2016

Glut of Floating Crude Clears

The glut of crude oil stored in ships on the North Sea is finally starting to dissipate. Demand for the commodity has increased as traders take advantage of

August 19, 2016
Total Views: 45

Thursday, January 28, 2016
tanker in storm
Maritime News

Crude Carriers Cutting Speeds as World Swims in Oil

By Alaric Nightingale and Alex Longley (Bloomberg) — The world’s biggest oil companies are asking tanker operators to slow down delivery of crude amid

January 28, 2016
Total Views: 24

Tuesday, January 19, 2016
Maritime News

China Offshore Driller CNOOC to Cut Output for First Time Since 1999

Aibing Guo and Rakteem Katakey (Bloomberg) — China’s largest offshore oil company will cut output for the first time in more than a decade, prompting

January 19, 2016
Total Views: 1

Monday, November 23, 2015
Maritime News

Norway’s Stacked Offshore Fleet Swells to 100 Vessels

By Mikael Holter (Bloomberg) — The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are

November 23, 2015
Total Views: 51

Tuesday, November 10, 2015
Maritime News

Oil Tanker Backlog in U.S. Gulf Seen as New Symbol of Glut

  HOUSTON, Nov 10 (Reuters) – A traffic jam of oil tankers has emerged along the U.S. Texas coast this month, a snarl that some traders see as the

November 10, 2015
Total Views: 473