November 6, 2020
Trends in long term oil demand can have a profound impact on the tanker market.
In October, three oil analysts published their long-term outlook for the energy industry. The IEA released their annual ‘World Energy Outlook’, OPEC issued their annual ‘World Oil Outlook 2045’ and BP announced their new strategy during their investor event, which was accompanied by their ‘Energy Outlook 2020 Edition’. All these outlooks cover several alternative energy scenarios for the coming 20-30 years.
While such outlooks are not really relevant for the day to day charter market, newbuilding tonnage ordered today will eventually operate in the markets described in these documents. While we don’t have room to discuss the various worldviews in detail, today we will give a brief comparison of their main points and their potential impact on the tanker industry.
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