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One tankerload of oil isn't going to be enough to move the market. From the article: Frontline Ltd., the world’s biggest owner of supertankers, said Jan. 14 a
by gravitycop 18y ago
One tankerload of oil isn't going to be enough to move the market.
From the article:
Frontline Ltd., the world’s biggest owner of supertankers, said Jan. 14 about 80 million barrels of crude oil are being stored in tankers, the most in 20 years. A purchaser could buy oil now, keep it for months at sea and fetch better prices by selling futures that are higher than the spot price.
The world uses about 86 million barrels of oil per day.
- deleted 18y ago[deleted]