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According to Kpler, there is still significant space in commercial warehouses in the USA and China. There is still more than 100 million barrels of space there. Japan and South Africa each have room for more than 40 million barrels. Remaining capacities of more than 20 million barrels exist in Saudi Arabia, South Korea, Canada, India, the United Arab Emirates, Great Britain and Italy.
According to Kpler, the pace at which the tanks fill up has increased. In January, around 3.3 million barrels a day flowed ashore in tanks, in April it had been an average of almost 3.5 million barrels. The amount of oil stored on large ships rose from 100 to 150 million barrels in the same period.
DJG / hru
HAMBURG (Dow Jones)
More news about lpreis (Brent)
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Image sources: Istockphoto
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