Friday, 1 May 2020

a final post on oil

The folks at @tankertrackers (who ever they are) provide the above illustration of where the full oil tankers are at the end of April 2020.  Not quite as many as some illustrations have shown.  It is pretty nice though to be able to SEE the supply chains.  All of those ships are going somewhere - or hanging around storing oil until it is worth selling.

They also provide a nice illustration gif of who the major oil producing nations are.  Many people immediately think of the Kingdom of Saudi Arabia.  Actually, they are third.  Second is Russia, and top of the list is the USA.

Oh, and WTI is now round about $ 20/barrel.  Low but not negative.

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