ShippingWatch

IEA projects oil flood far into 2016

The abundance of oil on the global markets will continue in 2016, projects the International Energy Agency in a new analysis.

Photo: COSL

The massive global supply of oil helping to push prices down will continue to flood the market far into 2016, reports Bloomberg on the basis of a monthly report from the International Energy Agency, IEA, in Paris.

Even though supply and demand are slowly etching toward equilibrium on the global market, there will still be a significant surplus of oil one year into the future. In spite of the growth in oil consumption doubling this year, and a wobbly influx of oil to the market, the amount of oil is still sufficiently huge to put pressure on capacity at storages.

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
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

CEO appoints new J. Lauritzen investment team

Kristian Mørch, the former CEO of Odfjell and current CEO of investment firm J. Lauritzen, has already constructed his new team, which involves both shipping and investment industry professionals.

Further reading

Related articles

Latest news

See all jobs