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This post was last edited by yinkuilin6868 on 2015-11-23 at 10:05. The world-record levels of oil storage in super tankers, along with an unprecedented inventory of 3 billion barrels of crude oil, are all quite remarkable. Record-high crude oil inventories are putting pressure on crude oil prices – what does this mean? If 3 billion barrels of excess oil supply were loaded onto tankers, those tankers could travel a distance of 530 kilometers… As reported by Bloomberg earlier, according to the International Energy Agency, oil reserves have risen to a record level of nearly 3 billion barrels due to strong oil production by OPEC and other producers, which could further exacerbate the collapse in oil prices. The International Energy Agency says that although global fuel demand is growing at its fastest pace in five years, \"huge oil inventories have expanded\" due to record oil supplies from Iraq, Russia, and Saudi Arabia. The International Energy Agency predicts that, due to the negative impact of low crude oil prices on the U.S. shale oil industry, oil supply from countries outside the OPEC will experience its largest decline since 1992 next year. The International Energy Agency, based in Paris, stated in its monthly report that “abundant crude oil reserves” provide “an unprecedented buffer against geopolitical shocks or sudden supply disruptions,” and with sufficient supplies of fuel for winter, “the bear market in oil has not chosen to hibernate.” ”According to the International Energy Agency, in September, crude oil inventories in developed countries increased by 13.8 million barrels, bringing the total to 3 billion barrels. In previous years, September was usually a time when crude oil inventories declined. The International Energy Agency states that although the rate of increase in crude oil inventories remains \"above their historical average,\" the growth rate in the third quarter dropped from 2.3 million barrels per day in the second quarter to 1.6 million barrels per day. There are signs that some fuel warehouses in the Eastern Hemisphere are already fully stocked. Meanwhile, the inventory of super tankers continues to rise – setting records so far this year... Data compiled by Bloomberg on tanker movements shows that 31 ultra-large crude oil tankers are heading to U.S. ports, the highest figure since May 2014 and the most for this time of year since 2013. In fact, some companies have already terminated their oil tanker leasing contracts… For example, Frontline Shipping has ended its long-term lease agreement for Mindanao. Frontline Shipping Company has reached an agreement with Ship Finance International Ltd., and the two parties have agreed to terminate the long-term charter contract for the Suez-class tanker Mindanao. As a result of terminating the current charter agreement, Frontline Shipping will receive approximately $3.3 million in compensation from the ship finance company. After the contract ends, the number of oil tankers leased by ship finance companies will be reduced to 14, including 12 ultra-large crude carriers and 2 Suez-type tankers. Torbjoern Kjus, an analyst at DNB ASA in Oslo, said by phone: “Buffer stocks of crude oil can lead to a bearish market trend, and they may determine how much crude oil prices can rise in 2016.” ” In terms of inventory capacity, “there is a high risk of the inventory being fully loaded.”