Western Sanctions Push Oil Storage on Tankers to All-Time Highs, Says Gunvor CEO
Western sanctions on Russia and Iran have caused unprecedented oil storage levels on vessels, as noted by Gunvor Group’s CEO, Torbjorn Tornqvist. Targeting major producers like Rosneft and Lukoil, these sanctions disrupt trade while maintaining a delicate balance in global oil supply. Mercuria’s CEO also predicts a potential supply surplus next year.