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Oil

Coronavirus lockdowns put the spotlight on crude oil storage

Commodities | Energy | Energy Transition | LNG | Natural Gas | Natural Gas (North American) | Oil | Crude Oil

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Listen: Coronavirus lockdowns put the spotlight on crude oil storage

US crude storage quickly became a major issue at the crux of the coronavirus pandemic lockdowns, as global markets struggled to find enough places to stash oil amid the oversupply and decreased demand.

That created a huge incentive for traders and producers to store their barrels instead of selling them on a prompt, physical basis, which overwhelmed storage availability.

Ernie Barsamian, CEO of the Tank Tiger, talks with Laura Huchzermeyer, managing editor of the Americas crude team at S&P Global Platts, about the changes and challenges of the storage market.

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