🚢 Navigating the Shifting Tides of the Tanker Market 🌍
Global oil demand is expected to peak before 2030, but tankers will remain essential due to regional shifts. Gibson's report and the IEA's outlook highlight key trends:
🔑 Key Takeaways:
1️⃣ Oil demand peaks by 2030, with declines in road transport but growth in petrochemicals, aviation, and shipping. 2️⃣ North America and Europe will decline, while South America, Africa, and the Middle East will grow.
3️⃣ Europe’s refining capacity will shrink, while U.S. Gulf refiners may gain export opportunities.
As production drops in some regions, reliance on Middle Eastern crude and long-haul trade will increase.