For the Saudi energy minister wondering how long it will take the world to use up excess oil stocks and rebalance the market, one picture could help find an answer. If all the spare crude was put in tankers today, they could create a queue more than a hundred kilometers long – or about two thirds of the length of the entire Suez Canal. It will most likely take until 2018 to clear that glut, say analysts, traders and oil companies – unless an oil producer the size of Nigeria loses half its production for an entire year. “It’s very difficult to predict explosions in Nigeria or wild fires in Canada,” said Hamza Khan, senior commodity strategist at ING. “If anything, the supply side has a potential to ramp up rather than put further […]