Global oil demand has reached an all-time high, even at a time with slow European economies and a slowdown in Chinese growth, says Global Risk Management in its quarterly The Oil Market report, published today.
The only thing keeping the prices from climbing to levels of more than USD 120 per barrel is the booming US shale oil production. Current demand stands at around 94 million barrels per day (mbpd), while the price for a barrel of brent oil has, according to Danske Bank, bottomed out at an 8 percent decline since early September, to around USD 95 per barrel, the lowest level since the summer 2012, reports Ritzau Finans.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
ECSA's new secretary general balances on a razor's edge
ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.
BW Epic Kosan believes in LPG growth following large progress in results
BW Epic Kosan, a merger between Lauritzen Kosan and Epic Gas, increased both revenue and operating result by more than 50% in Q1. The gas carrier believes in growth for sea transportation of liquefied petroleum gas this year.
This is how much EU's CO2 quotas will cost for a container from Asia to Europe
The EU Parliament has given its approval to the part of the EU’s large-scale energy reform that aims to include shipping in CO2 quota system from the new year. Siglar Carbon has calculated the additional charges for a single container from Rotterdam to Shanghai.
Nordic shipowners hope for CO2 levy as soon as possible – Bimco is skeptical
The Danish and Norwegian shipowners’ associations hope the IMO is ready to act after last week’s positive signals regarding a CO2 levy. A long process lies ahead, according to Bimco’s deputy secretary general – possibly as long as ten years.
Euronav's merging partner Frontline advances in first quarter
Tanker carrier Frontline, set to merge with competing Euronav, books improvements on both top and bottom lines in the year’s first quarter. One reason is the war in Ukraine having led to longer oil transports to Europe, says company CEO.
Team Manager 
Marine Sales Executive - Performance Coatings 
Senior Finance Business Partner 
Marine Superintendent 
Port Director for the Port of Kolding