Analyst firm says crude demand may have peaked in 2019

The crude market will come under pressure in 2021 and going forward, assesses analyst firm McQuilling Services. Demand for crude oil may have peaked in 2019, posing a challenge to markets.

BY DAG HOLMSTAD, SHIPPINGWATCH

Although very large crude carriers (VLCCs) will have more to transport in 2021 as demand for crude is set to increase compared to corona-chaotic 2020, the long-term prospects are more bleak, estimates analyst firm McQuilling Services Marine Transport Advisors in its new market analysis: "2021-2025 Tanker Market Outlook".

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