How much high-risk oil is on water?

Описание: High-risk oil-on-water is rising again - and it’s increasingly acting as a buffer between loadings and end-demand. When buyers slow liftings or discharge options tighten, barrels don’t disappear; they stack up at sea, often around key waiting and transhipment areas.

The scale is starting to matter. Global crude on water has climbed ~19% since September (+215 Mbbl), with high-risk exporters (Iran/Russia/Venezuela) the single biggest contributor (+78 Mbbl, ~36% of the build). At the extreme end, high-risk crude on water is nearing ~400 mb - roughly one-third of global crude floating volumes.

This short visualisation shows how those high-risk barrels have built recently, where they’re concentrating, and why tracking “waiting for discharge” volumes is essential for reading near-term availability and price structure - especially when products can stay tight even as #crude looks long.

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