ShippingWatch

OPEC sees stronger demand for oil this year and next

Fuel consumption is recovering while oil production is lower than anticipated, according to the latest update from OPEC.

An offshore oil platform | Photo: Mærsk/Statoil

OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and output disruptions elsewhere.

The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. Despite the threat of the delta variant of Covid-19, fuel consumption is recovering while crude production from the North Sea to the US and Mexico comes in lower than anticipated.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Schedule reliability among container lines drops to historic low

August represented a historic low point for container carriers' schedule reliability. Only three out of ten container vessels – or 33.6 percent – managed to deliver goods on time, according to new figures from Sea-Intelligence. Reliability hasn't been lower in the ten years the analyst firm has monitored reliability.

Further reading

Related articles

Trial banner

Latest news

See all jobs