Global Oil Supply Outages and Their Impact on the Tanker Markets
May 19, 2016
In the past several months there have been a series of unexpected crude supply disruptions in multiple locations across the globe including Canada, Nigeria and Venezuela. Widespread concerns about when production will resume in these places has pushed benchmark oil prices to their highest levels since October 2015. Each of these outages has the potential to impact various segments of the tanker market.
Massive wildfires in the oil sands hub of Fort McMurray, Alberta and slightly north of the region have forced several oil producers to halt operations at their facilities, cutting production by up to 1.2 million ...