Stunning Satellite Images of the Global Tanker Oil Glut

from Zero Hedge

One week ago, we showed the latest MarineTraffic update of the unprecedented congestion of crude oil tankers located off the coast of Singapore, together with an extended analysis of what is causing this and what are the implications.

[…] Today, we’ll spare readers the ongoing analysis – which hasn’t changed – and instead present the following dramatic satellite images just released from Reuters, showing “huge traffic jams of tankers which have formed around the world with some 200 million barrels of oil either waiting to be loaded or delivered as ports struggle to cope with record volumes in perhaps the most visible sign of the global oil glut.”

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