Will A Recession Sink The Tanker Market?

August 26, 2022

What would the likely impact of a global recession be?

Ever since inflation rose dramatically earlier this year and especially after oil prices increased dramatically following the Russian invasion of Ukraine, the world is increasingly worried about a potential recession.  The Chinese economy, which is crucial for the tanker market, is suffering from Covid lockdowns and from a financial housing crisis.

After the attack on Ukraine, oil prices rose quickly to about $130/bbl but recession fears have affected prices in recent months and they have declined to around $100/bbl currently.  To better understand the impact of recessions on the oil and tanker markets, we have looked at the five major recessions that occurred since 1990.

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