Wed, May 27, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Market Pulse, Oil, Price Watch more

Traders profit as ship-stored oil doubles

Posted on 15 January 2009

From FT Alphaville: Oil companies and traders are storing enough oil in supertankers to supply the world for one day, in one of the most striking signs of supply outstripping demand as the impact of the economic crisis overshadows a string of Opec production cuts, the FT reported.

According to Deutsche Bank’s oil trading desk “over 80m barrels of oil is now on floating storage”, double the industry assessment of about 40m-50m last month…… Full Article: Source


 Article link

This post was written by:

VRS - who has written 40662 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
May 2015
S M T W T F S
« Apr    
 12
3456789
10111213141516
17181920212223
24252627282930
31