Splash 247: Oil demand to exceed 2019 levels by end of next year

June 14, 2021

Looking at what these projections mean for the tanker market, Poten & Partners suggested in its latest weekly report that this year the focus will be more on a rebound in demand from OECD countries, which have access to more short-haul supplies, something that converts to lower ton-mile demand growth. However, in 2022, Poten suggested the demand focus will switch back to non-OECD countries, and, at the same time, non-OPEC production growth will accelerate, something that bodes well for ton-mile demand growth.

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