Saudi crude flotilla heads for delays unloading in U.S. ports
Supertankers laden with Saudi Arabian crude heading to U.S. shores are taking longer than normal to discharge as smaller ships used in the process have become hard to find.
Increased crude deliveries from OPEC’s largest producer to the U.S. Gulf Coast and the reliance on a limited number of small ships contracted by buyers to help unload the cargoes are causing lengthier wait times, said market participants. The delays may even worsen before they ease, they said.An armada of Saudi oil is still en route to the U.S., a product of a price war with Russia back in March, where the kingdom flooded the market with oil and offered cargoes to the U.S. at the lowest prices in years. Saudi pumped a record of more than 11 million barrels a day in April.
Japan wants to subsidise your holiday to persuade you to return162029.05.2020, 01:10
US shale industry braces for wave of bankruptcies180827.05.2020, 01:05
Swedish jobless rate climbs amid brewing political storm192326.05.2020, 18:30
Negative pricing seen spreading from oil to gas as European demand slumps199525.05.2020, 23:10
Argentina defaults again as debt talks progress261924.05.2020, 00:15
US adds 33 Chinese companies, institutions to economic blacklist260723.05.2020, 15:35