Bugbee: Oil slide extends potential significantly
The collapse of the oil price makes Scorpio Tankers President Robert Bugbee draw comparisons to the 1980s. "This will not just improve the rate environment for product tankers, it will significantly extend a potential upside."
BY KATRINE GRØNVALD RAUN
The collapse in the oil price now makes Scorpio Tankers President Robert Bugbee draw comparisons to the situation on the energy markets back in the 1980s, where reduced demand for oil combined with excess production on the global markets led to a six-year decline in the oil price.
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