Article 52BQZ Supertankers drafted in to store glut of crude oil

Supertankers drafted in to store glut of crude oil

by
Jillian Ambrose
from Environment | The Guardian on (#52BQZ)

Ships able to carry 2m barrels chartered for $335,000 a day to store oil unwanted during the Covid-19 pandemic

Giant oil tankers are being used to hold record amounts of crude at sea due to a global oversupply that threatens to overwhelm the world's storage facilities.

A record 160m barrels of oil has been stored in "supergiant" oil tankers outside the world's largest shipping ports following the deepest fall in oil demand in 25 years because of the coronavirus pandemic.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/environment/rss
Feed Title Environment | The Guardian
Feed Link https://www.theguardian.com/us/environment
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments