DailySun
The volume of oil being shipped across the globe has once again surged as major producers ramp up output worldwide.
As per Vortexa data, the total amount of oil in transit has soared to 1.2 billion barrels, the highest level recorded since at least 2016. When factoring in vessels carrying oil that aren’t currently in motion, this represents the highest figure since 2020, a period when a global pandemic drastically affected demand and traders started storing barrels on everything from large supertankers to smaller barges.
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Global oil production is expected to continue rising through the fourth quarter and into early 2026, with increases coming both from within and outside the Organisation of the Petroleum Exporting Countries (OPEC). Most analysts believe these boosts will surpass the growth in demand. Recently, the OPEC+ producer group reached an agreement for a slight increase in output, steering clear of any significant changes.
So far, a considerable portion of this year’s crude oversupply has been absorbed by China, which has been accumulating barrels since early 2025. In September, the nation experienced its largest drop in crude inventories in seven months, according to OilX data, indicating potential for further demand growth.
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