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McQuilling Services’Mid-Year Tanker Tanker Market Outlook Update

VLCC demand along the AG>West trade is likely to remain subdued over the remainder of the year amid OPEC-led production cuts in the Middle East as well as higher crude supply in the US. Regarding Arabian Gulf volumes to the East, we expect ton-mile demand growth of about 1.6% this year, while Atlantic Basin volumes to the East will remained supported by higher US crude exports on the back of favorable WTI pricing.

 

Source: McQuilling Partners, Inc.

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