Tanker

Analyst firm: Crude oil demand may have peaked in 2019

The crude market will come under pressure in 2021 and going forward, assesses analyst firm McQuilling Services. Demand for crude oil may have peaked in 2019, posing a challenge to the VLCC market.
Photo: PR/Odfjell
Photo: PR/Odfjell
by DAG HOLMSTAD

Although supertankers (VLCCs) will have more to transport in 2021 as demand for crude is set to increase in relation to corona-chaotic 2020, the long-term prospects are more bleak, estimates analyst firm McQuilling Services Marine Transport Advisors in its new market analysis: "2021-2025 Tanker Market Outlook".

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