Floating storage

Global floating storage

Floating storage significantly decreased over the last few months as expected after OPEC and non-OPEC agreement. Our data shows that floating storage attained 77 million barrels early December dropping to 39 million barrels on Mar.22

North Sea floating storage

However, some regions have seen floating storage increase over last weeks. One of those regions is North Sea, where floating storage passed from to 8.6 MMbbls, which is the level of floating storage observed early January 2017 in the region. Vessels floating without a destination are:

With only BFOE grades, floating storage reaches 7.7 MMbbls.


WAF floating storage

WAF floating storage remains stable between 4 to 5 million barrels in average since early January as shown below in our daily floating storage (since Nov 2016)


Iran floating storage

Iran finished clearing their remaining floating storage in March. Floating storage in Iran was at 9 million barrels on March 1st, and dropped to 3.28 million barrels on March 23. For record, Iran this value attained close to 40 million barrels in October 2016.