Crude and condensate in long-term floating storage hit its highest since August 2017 in May at 24 million barrels, as U.S. sanctions against Venezuela and Iran hindered the ability of the OPEC members to export, data from analytics firm Vortexa showed. Floating storage rose 15 million barrels in May compared with average levels of May 2018, and levels this month have already reached 26 million barrels, the data showed on Friday. ions on Iran and Venezuela, trapping more heavy barrels in offshore storage,” Vortexa said. Oil production in the two countries has fallen sharply since the United States imposed sanctions which have significantly impacted their […]