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Shell Taps Supertankers for Offshore Oil Storage as Price Volatility Continues

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   |    Thursday,March 12,2020

Royal Dutch Shell is making moves to utilize "supertankers" for offshore crude oil storage as it grapples with the after-effects of the failed OPEC meeting.

According to a report by Reuters, Shell has reserved three two million-barrel very large crude carriers (VLCCs) for the task. The company plans to house some of its crude oil stores offshore for at least three weeks.

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