Tankers Archive

January 5th 2018

MEG product exports Shifting focus

The next wave of Middle Eastern refinery capacity growth kicks off with Saudi’s Jizan refinery in the second half of this year. Over the next three years we are likely to see the region add nearly as much refining capacity as during the preceding four years – a period that firmly established the region as a refined product export hub. But while the last phase boosted distillate exports to Europe and Eastern/Southern Africa, this phase should focus on Asian markets.

December 15th 2017

Crude trade in 2018 Shaping up nicely

Asian oil demand is expected to grow rapidly next year: up 390k b/d in China; up 320k b/d in India; up 270k b/d in the rest of non-OECD Asia. Crude oil output in India, China and Malaysia should fall. Production agreements between and beyond OPEC members should keep Middle East production flat throughout next year, forcing Asian importers to look to the US and Brazil. The US and Canada should be able to lift output by a combined 1.4m b/d; Brazil by 0.18m b/d.