Supertankers Carrying Debt-Repayment Crude Have Turned Back.

Two supertankers intended to carry crude for debt repayment have performed U-turns and headed back to Asia, signaling a continued disruption in direct oil exports. Although a new deal aims to release 50 million barrels of oil currently held in storage, global trading houses Vitol and Trafigura are set to manage these shipments to international markets instead of state-run PDVSA. This shift highlights the ongoing difficulty in maintaining traditional debt-servicing channels, even as new supply agreements begin to take shape through third-party traders.

©YovaniBernard