From Norway to the Bahamas, from Algeria to Australia.
Ultra-low crude prices combined with cheap shipping rates are encouraging a host of exotic new oil trading routes that wouldn’t look out of place in the latest travel brochures.
Oil exporters are tapping into new markets as they attempt to work through a glut in crude supplies that’s reshaping oil market economics and redrawing decades-old shipping routes.
The U.S. has led the way thanks to the lifting of a 40-year ban on oil exports, with shipments departing for Curacao, France, and Israel in recent months.
But the trend has extended ...
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