Growing U.S. energy independence is driving the biggest drop in crude imports in two decades and...

|By:, SA News Editor

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. Domestic oil is crowding out west African imports; combined with a capacity glut causing rates for some ships to average less than operating costs, analysts say it's a tough near-term outlook for the likes of Teekay (TK) and North American Tanker (NAT).