Heavy crude is piling up in the Americas because surging freight costs have hindered exports, while Asia and Europe struggle to secure supply even with Brent above $100 a barrel. Heavy crude is typically cheaper and suits many refineries, but US refineries can process only a fixed share of it, even though they have run at about 94% of capacity this year, the highest in 28 years. The surplus is also tied to higher Venezuelan exports after the US captured former president Nicolas Maduro earlier this year, a US release of more than 130 million barrels from its emergency reserve, and record Canadian output. Supertanker charter costs from the US Gulf to Asia have risen more than fivefold since February, to over $80 million or $40 a barrel, as ships are held longer by ship-to-ship transfers in the Gulf of Oman.
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Original headline: Châu Mỹ thừa dầu mỏ
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