The flood of U.S. oil exports stepped up a gear on Monday after the first fully laden supertanker sailed from an American port, alleviating a bottleneck that’s limited overseas shipments.
U.S. Oil Exports Go Up a Gear as Supertanker Sets Sail for China
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RittaFarr
This quote says it all that’s a lot of barrels – “There could not be a better time to offer this service as domestic production surpasses 10 million barrels per day in the ever-dynamic global crude oil market,” said LOOP LLC President Tom Shaw.
Is the industry destined to expand into oversupply resulting in the cyclical issues we’ve seen in the past?