The Global Oil Glut Is So Great, Tankers Take The Long Route Around Africa To Find A Buyer

While we have previously observed the massive glut of oil product in the US, which has led to such arcane developments as a "parking lot" of oil tankers outside of Galveston, TX...





... or ships loaded to the brim with crude making U-turns in the middle of the Atlantic Ocean, taking advantage of the supercontango while unable to find buyers...








Read More: http://www.zerohedge.com/news/2016-02-19/global-oil-glut-so-great-tankers-take-long-route-around-africa-find-buyer