US Oil Imports in Freefall, Force Shipping Rates

Growing U.S. energy independence is driving the biggest drop in crude imports in two decades and rates for the oil tankers most reliant on the shipments to the weakest in at least 16 years, reports Bloomberg.

Citing shipbrokers Clarkson, Bloomberg add that seabourne imports will decline 11 percent to 5.4 million barrels a day in 2013, the largest slide since at least 1991.

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via US Oil Imports in Freefall, Force Shipping Rates.

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