The volume of oil sailing across the world’s oceans has surged to a record 1.2 billion barrels, according to Vortexa data, marking the highest level since at least 2016.
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The volume of oil sailing across the world’s oceans has surged to a record 1.2 billion barrels, according to Vortexa data, marking the highest level since at least 2016.
The volume of oil sailing across the world’s oceans has surged to a record 1.2 billion barrels, according to Vortexa data, marking the highest level since at least 2016. When including ships holding oil but not moving, the total hits levels unseen since 2020, when demand plummeted due to the global pandemic and oil was stored on tankers and barges worldwide.
Experts project that global oil supplies will continue to grow into late 2025 and early 2026, with increased production both within and outside OPEC+ countries. Despite OPEC+’s recent agreement on modest output boosts, traders foresee supply outpacing demand growth in the near term.
Much of this oversupply has been temporarily absorbed by China’s strategic stockpiling since early 2025. In September, China’s crude stockpiles saw their largest decline in seven months, suggesting a potential uptick in demand ahead.
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