The CIO continues to expect Brent prices to rise back above USD 100/bbl in the coming months as the sale of US Strategic Petroleum Reserves (SPR) ends, the European export ban on Russian crude takes effect and the Oil demand continues to rise.
While US inventories of crude oil, refined products and strategic oil reserves are at their lowest levels since 2004, there is oil on the water – which includes oil being transported in tankers from producer to consumer and oil being stored on a tanker (so-called floating storage) – has…
