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Tanker market report dated 21 June 2019

21 June 2019

As we noted in our report dated 7th June, the slowing global economy, partly driven by the ongoing US-China trade war is starting to impact on world oil demand. An increasing number of agencies are factoring in an increased risk of an economic downturn into their projections. In May, the OECD lowered its forecast for global economic growth to 3.2%, whilst the Netherlands Bureau of Economic Policy Analysis recently claimed that world trade had fallen back to its slowest growth rate since the financial crisis.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 22 March 2019

25 March 2019

Earlier this month the IEA released its medium-term outlook for the global oil markets, which provides analysis and the forecast of the key issues in demand, supply, refining and oil trade through to 2024. The report portrays a positive outlook for oil demand growth, which is expected to continue to increase at a healthy pace, in line with the average growth rate seen since 2000. The gains in oil consumption are projected to average 1.2 million b/d per annum between 2018 and 2024, driven by the expansion of the petrochemical industry and the fast-growing aviation sector. Asia Pacific will see the fastest growth in consumption, accounting for 62% of the total increase in demand.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.