Oil supply significantly exceeds demand. Production remains at a high level.According to the experts, the waters are now floating tankers with 200 million barrels of oil in anticipation of customers - based on AMarkets.
200 million barrels - about $ 7.5 billion at current market prices. If all tankers lined up, you get a 40 km. Ships float in the seas and oceans for several months in anticipation of buyers. Tankers are so many that even moor anywhere. The main oil consumer - China - does not live up to expectations.
Tankers three weeks waiting for their turn on the way to Qingdao port to ship the raw materials by Chinese refiners. And all such tankers is currently 125 - details of the ship broker Banchero Costa. The loss, which are 125 tankers - about $ 50 thousand per 1 boat per day..