The Oil Industry’s Glut Has a Bright Spot: Tanker Storage

Jonathan Chappell, a shipping analyst at Evercore ISI, a securities broker, said the tanker operators were, in effect, seeing the activity of a couple of years crammed into six months. Once normality returns, he said, the futures market will shift, and traders and companies will liquidate the inventories of oil built up at sea and on land, slashing the need for ships.

Article source: https://www.nytimes.com/2020/04/23/business/oil-markets-tankers.html