According to Global Energy News on April 27, data from petroleum analysis company Vortexa shows that in the past month, the number of major petroleum products floating in the world has more than doubled to about 68 million barrels.
Vortexa said that as of April 22, this figure includes gasoline, diesel and jet fuel, compared with about 30 million barrels last month.
Because of the limited space available for land storage tanks, traders around the world are scrambling to book tankers of various sizes to store petroleum products in response to the global epidemic to combat oil demand.
Vortexa said that floating reserves have increased in northwestern Europe, the Mediterranean Sea, the Gulf of Mexico, Fujairah in the United Arab Emirates, Singapore and other regions.
