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India’s retreat from Russian oil could cause global trade flow shockwaves
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
Trump’s energy report card
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
Middle East gas can power regional prosperity
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
Power of Siberia 2: Deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
Trump energy policies and changing consumer trends to upend oil supply and demand
California refiners dreaming of heyday
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
Mars attacks US oil industry
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
Bakken oil output may hold its ground
While oil prices will determine the trajectory of the key US shale patch, regulation and technological shifts are also likely to shape direction longer term
China Saudi Arabia Floating storage US Storage
Peter Ramsay
26 March 2020
Follow @PetroleumEcon
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Approaching tank tops to further pressure oil

Two analysts agree that crude oversupply will exhaust storage space in a matter of weeks

Cargo tracking specialist Kpler and Oslo-based consultancy Rystad Energy both predict spare capacity in global crude storage fully filled well before the end of May—a scenario that is likely to plunge oil prices ever lower. The firms’ views on how much capacity, not including floating storage, remains available is broadly similar. Rystad estimates that 875mn bl is left to fill. Kpler comes to a slightly lower figure of just under 750mn bl but concedes that there could be upside to that. It actually sees as much as 1.6-1.7bn bl of nameplate storage capacity still unfilled but is concerned that this includes facilities that are beyond practical use due to age or length of time since they were

Also in this section
Letter from Azerbaijan: Net-zero strategy to reshape South Caucasus
Opinion
19 August 2025
ExxonMobil’s MOU with SOCAR, unveiled in Washington alongside the peace agreement with Armenia, highlights how the Karabakh net-zero zone is part of a wider strategic realignment
Oil outlook: Who and what to believe?
19 August 2025
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
India’s retreat from Russian oil could cause global trade flow shockwaves
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
Trump’s energy report card
11 August 2025
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables

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