OPEC+ production cuts have dire implications for oil tankers

April 20, 2020

Via: Offshore Energy

“The first quarter of 2020 has been one of the most profitable quarters in the past decade for crude oil tankers, which will hopefully provide a liquidity buffer for the challenging months that lie ahead. Once the production cuts set […]


IEA: US to Dominate Global Oil Supply in Next 5 Years

March 6, 2018

Via: World Maritime News

The United States is set to take over the throne as the world’s largest oil producer in the next five years, overpowering OPEC countries. Over the next three years, gains from the United States alone will cover 80 pct of […]


BIMCO: Pressure in Tanker Shipping Market Extends into 2018

February 19, 2018

Via: World Maritime News

Overcapacity, weak ‘trading demand’ and weak OPEC output have depressed the conditions that usually boost long hauls in the tanker shipping market, according to BIMCO. As illustrated by the very weak rates for oil product transports during most parts of […]