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Next year's oil consumption is not enough for a tanker recovery

Even though oil consumption is expected to increase next year, the tanker ship operators face a slow improvement, says shipping association Bimco.

Photo: Beck Diefenbach/Reuters/Ritzau Scanpix

New numbers from the US Energy Information Administration, EIA, project that oil consumption will rise to 98.2 million barrels per day in 2021 compared to this year, an increase of 6.3 percent.

According to shipping association Bimco, this means that there is a little to look forward to for the tanker sector, as the numbers are even lower than consumption in 2017, 2018 and 2019.

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