Global Oil at Sea Climbs to a Record as Production Surges

The amount of oil sailing the world’s oceans on tankers jumped again as production from key producers is ramping up around the globe.

The total amount of oil in transit climbed to the 1.2 billion barrels, according to Vortexa data, the highest since at least 2016. If ships carrying oil but not moving are added, the figure is the highest since 2020, when a global pandemic ravaged demand and traders stored barrels on everything from giant supertankers to tiny barges.