OIL MOVEMENT

Taranaki Central Press, Volume IV, Issue 374, 4 March 1937, Page 5

OIL MOVEMENT

Nations Building Up Large Supplies.

Press Association—Copyright. London, March 3. ; The quality of oil now being trans- | ported by sea is probably the greatI est in history, states- Mr. Hector Byj Water, naval expert, in the- Daily I Telegraph. Most of the non-produc-ing nations appear to be building up the largest possible reserves l against contingencies. Britain normally imports over one million tons of oil products annually but the volume has recently been substantially increased. France, Italy, Japan and Germany are all clamouring for supplies and the world-wide demand is throwing a strain on the international tanker fleet. A shortage of transport is l threatened and freights have risen sharply.. This will probably mean that oil products prices will rise.