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Main » 2015 » October » 30 » Oil has nowhere to go?
Oil has nowhere to go?

Oil tanks in the United States, Europe, China loaded to complete the program due to increased volumes of imports from the East and it is the demand.Indicators of oil storage tanks are near maximum levels of congestion.



A similar situation was observed in 1998 and 2009, while storage facilities are full and this has led to a sharp decline in oil quotes.

Now, many experts predict that in the near future the situation will worsen and amid an overabundance of supply over demand, oil is not what to do that will result in an immediate reduction in the cost prices.

Note that the storage facilities are already occupied by China, but the country still buys oil to replenish strategic reserves. For more than 2 months off the coast of China are drifting oil tankers, which will be used to replenish the strategic reserves of the country.

It is noteworthy that the delay in unloading tankers, will cost a lot - millions of dollars. Daily rate of large tankers is now more than 100 thousand US dollars. And as the market of "black gold" is still a significant oversupply, then, as a consequence, the number of vessels crowded oil increases daily. 

According to the materials Weltrade



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