COVID-19 outbreak leads to a surge in tanker rates

COVID-19 Outbreak Leads to a Surge in Tanker Rates

Crowley

The rates for chartering very large crude carriers (VLCCs) has surged exponentially due to a spike in demand for long-term offshore storage of crude oil following the Organization of Petroleum Exporting Countries’ (OPEC’s) disagreement with Russia over the impact of the coronavirus (COVID-19) and the resulting oil price crash, according…

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3 Ways Technology is Going to Shape the Oil and Gas Industry Free to Download Today

Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.

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