WASHINGTON (Bloomberg) --A fleet of supertankers carrying Saudi oil
will add to the growing congestion at U.S. ports in coming weeks at the
same time producers are shutting in output as they run out of space to
store unwanted supplies.
A total of 43 million barrels of Saudi oil is set to arrive on the
U.S. Gulf and West coasts by May 24, according to Rystad Energy. The
flotilla -- comprising 28 tankers, including 14 very large crude
carriers, or VLCCs -- will join a queue of 76 tankers waiting to unload
in U.S. ports as the greatest oil glut in history plays out.
Dozens of tankers are lined up off the two coasts with demand for
motor and jet fuel destroyed by the Covid-19 pandemic. There are 34
tankers already waiting in line to offload about 25 million barrels on
the West Coast, and 31 tankers lined up off the U.S. Gulf Coast.
https://www.worldoil.com//news/2020/4/30/saudis-43mmbbl-oil-flotilla-will-clog-more-than-us-storage-tanks
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