The amount of crude and condensate hoarded on tankers has tumbled to more than two-month lows as the incentives for storage start to recede, although volumes offshore China remain high, putting pressure on the physical oil market, according to analysts. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The easing of OPEC+ production cuts together with a gradual demand recovery have assisted the rebalancing of the global oil market. But congestion outside the ports of the world’s largest crude importer, China, along with a slower than expected demand recovery, has meant floating storage levels haven’t tailed off sharply. Data intelligence firm Kpler estimates that floating storage volumes were around 169.57 million barrels for the week […]