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Tanker market report 31 March 2023

03 April 2023

Late last week, the Government of Iraq won an international arbitration award upholding Baghdad’s sovereignty over exports from oil produced in the Kurdistan autonomous region. Following the award, Ankara immediately instructed pipeline operator Botas to cease flows on the Kirkuk-Ceyhan pipeline resulting in approximately 400kbd of crude being forced into storage and now mostly shut in. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.

Tanker market report dated 15 March 2019

18 March 2019

Opec crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years. February numbers show a significant over compliance, with Saudi Arabia leading efforts to implement cuts with a 153% compliance rate, some 170,000 b/d already below their overall target. Iraq and Saudi Arabia alone contributed 170,000 b/d in additional cuts between them in February alone. However, having already cut production close to their original 2019 target, they may now be missing the opportunity to capture market share in the face of rising demand. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.