15 Feb 2019: Over the last 10-15 years the focus in world oil markets has been on Asian demand in general and the rapid growth in Chinese oil consumption in particular. On the supply side of the equation, the Middle East continued to be the focal point as the largest supply source, although other areas like Africa and Russia did become more important. More recently, production and exports from the United States have been getting a lot of the spotlight. One region that has not received a lot of attention in recent years is Northwest Europe. Once a major driver of global oil and tanker demand, Europe has gradually become a less significant factor. However, as we like to highlight in today’s Tanker Opinion, Northwest Europe is still very relevant.
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