dChan
Anonymous ID: dabe73 April 22, 2020, 6:59 a.m. No.8883573   🗄️.is đź”—kun   >>3934 >>4192

ATILA25 C-560 up from Ali Al Salem Air Base, Kuwait and se

CREEP02 C-130 Hercules finished off shore with _161988 CH-53 Sea Stallion taking up patrol off the coast

CNV512 US Navy Beech Huron circling at Ali Al Salem AB from Bahrain, Manama

MOJO88 DC-10 Tanker up and nw

 

Heating up here a little..has been relatively quiet lately

Anonymous ID: dabe73 April 22, 2020, 7:10 a.m. No.8883658   🗄️.is đź”—kun   >>3934 >>4192

Swiss Gov't SUI009 Falcon 7X from Port au Prince, Haiti-switched on just inside Dom. Republic airspace

 

VM767 C-560 nw from Camp Lejeune

LOBO715 C-560 wn from MCAS Cherry Pt

DDFI5899 C-560 out and se from New Orleans NASJRB heading to Ft. Lauderdale

Anonymous ID: dabe73 April 22, 2020, 7:36 a.m. No.8883872   🗄️.is đź”—kun   >>3934 >>4100 >>4192

Oil Stored At Sea Accelerates To Jaw-Dropping 250 Million Barrels

 

With demand dried up in the wake of the Russian-Saudi price war and now historic plunging prices extending through Tuesday, and little to do to give prices a short-term boost given lack of buyers in a flooded market, the kingdom has been forced to store much of its oil at sea.

 

"At least one in 10 supertankers around the world is serving as a floating oil storage facility, Saudi oil officials say," the WSJ reports.

 

As of the start of Wednesday, broker Clarksons Platou Securities has noted global floating storage is now accelerating at an “unprecedented pace” currently amounting to almost 250 million barrels, up from common estimates of 160 million bbl only last week. Tankers are literally stranded without buyers, and it should be remembered too that last month charter rates for the giant vessels reached highs of $350,000 a day.

 

Supertankers are capable of each holding up to 2 million barrels of oil, now fast converting to indefinite massive storage units due to global oversupply.

 

This estimated some 250 million barrels now floating aimlessly outside shipping ports marks a record that smashes the previous highest level of tanker-stored oil in 2009.

 

According to the WSJ's estimates citing the Saudis, "About 80 supertankers out of 750 world-wide are now used to store oil rather than transport it, according to Saudi officials."

 

A LIVE SHOT OF ALL THE WORLD'S EMPTY VLCC SUPERTANKERS CAPABLE OF CARRYING 2 MILLION CRUDE OIL BARRELS; data via @MarineTraffic #OOTT pic.twitter.com/6SFWD0JAtf

— TankerTrackers.com, Inc.⚓️🛢 (@TankerTrackers) April 20, 2020

 

And shockingly only by last Friday, it was recorded: "The amount of oil in storage at sea rose by 21 million barrels to 147.6 million in the week to April 19, according to commodities-data provider Kpler, making up the bulk of the stocks increase globally."

 

There's talk among the Saudis of drastically cutting oil output immediately even before a last-ditch agreement brokered among OPEC, the US and Russia and other OPEC+ petroleum-exporting countries takes effect next month to cut their oil production by 9.7 million barrels per day through June.

 

Oil tankers carrying enough crude to satisfy 20% of the world’s consumption are gathered off California’s coast with nowhere to go https://t.co/941dohkrOf

— Bloomberg Asia (@BloombergAsia) April 21, 2020

 

“The kingdom is now facing a situation where they may have to shut parts in their production, likely from Ghawar and other fields because they don’t have buyers,” a senior Aramco executive told WSJ.

“The fact is buyers don’t have storage so regardless of whatever level of output you want, there won’t be storage for it,” he said.

 

    • *

 

Meanwhile, in more good news…

 

20 tankers—filled w/ 40mm barrels of Saudi oil—are headed to the US. This is SEVEN TIMES the typical monthly flow. At the same time, oil futures are plummeting & millions of US jobs in jeopardy. My message to the Saudis: TURN THE TANKERS THE HELL AROUND. https://t.co/gYoQzvHAEQ

— Ted Cruz (@tedcruz) April 21, 2020

https://www.zerohedge.com/energy/saudi-tankers-160-million-barrels-oil-are-floating-sea-nowhere-go