Oil tankers queue up near Rotterdam waiting for higher oil prices

Oil tankers are waiting in the port of Rotterdam, expecting a rise in oil prices.

According to media reports, traders were unable to sell sufficient volumes. Therefore, overproduction has led to full onshore storage tanks.

Rotterdam port spokesman Sjaak Poppe said that the current 'pandemonium' is an unusual phenomenon. According to him, most of them are waiting for an increase in oil prices, RBC reports.