Americas have glut of heavy oil due to freight squeeze; Asia, Europe scramble for barrels
5 Articles
5 Articles
The heavy crude oil accumulation across the Americas has opened an unusual gap in the global oil market, as while Asia and Europe are experiencing a supply shortage and prices above $100 per barrel, the Western Hemisphere is experiencing a growing surplus that cannot be exported due to soaring transportation costs.
Channel News Asia
Americas have glut of heavy oil due to freight squeeze; Asia, Europe scramble for barrels
HOUSTON, Oct 12 : Dense heavy crude, which oil refiners around the world favor for its typically low cost, is piling up in the Americas as soaring freight rates have stifled exports and US refiners have been running close to their limits. The glut in North and South America has opened an unusual split in the
Soaring Tanker Rates Leave Americas Awash in Crude Oil
Dense heavy crude, which oil refiners around the world favor for its typically low cost, is piling up in the Americas as soaring freight rates have stifled exports and US refiners have been running close to their limits.
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