Crude Carriers Cutting Speeds as World Swims in Glut of Oil

Updated on
  • Euronav says swelling onland storage prompting requests
  • Biggest tankers are moving about 2 knots below maximum

Tankers Slow Down Amid Oil Glut

The world’s biggest oil companies are asking tanker operators to slow down delivery of crude amid an ever-expanding supply glut on land, Europe’s largest owner of supertankers said.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.