Full tankers stuck at sea as European tanks are fullA growing number of tankers with oil purchased to deliver in March and April for Europe can’t be offloaded as storage tanks in Europe are too full to handle more. The marketplace will force the curtailment of oil production, not the irrelevant and impotent OPEC+.
I was spot on with the global deflationary effects of COVID-19. I will be spot on with global storage reaching capacity and driving global oil prices down to into the teens. VET is extremely vulnerable in this environment. Don’t doubt me. JMHO. GLTA.
https://af.reuters.com/article/commoditiesNews/idAFL5N2BX2E3