Shipping & Ports
Tanker Market Eyes Rising West-to-East Flows on US-Venezuela Deal
Global tanker routes could see increased West-to-East crude flows in the coming years following a bilateral agreement between the US and Venezuela, according to Gibson.
Crude tanker movements from western export locations to eastern markets could expand in the coming years, according to an analysis by shipbroker Gibson.
In a recent weekly market overview, the brokerage linked the projected shift in trading patterns to a 65 billion barrel arrangement between the United States and Venezuela.
Gibson noted that President Trump announced the agreement, which involves the United States securing control over 65 billion barrels.
Source attribution
This report was written by the Global Freight editorial desk based on material published by Hellenic Shipping News Worldwide. It is an original summary and analysis, not a reproduction of the source text. Figures and claims are limited to those present in the source material.
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