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Petroleum Devolopments
Volume 41 Issue 10
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previous month to reach 165 points on WS, freight rates for Petroleum
Products across Mediterranean [for tanker size 30-35 thousand deadweight
tons (dwt)], increased by 13 points, or 6.8% to reach 203 points on WS,
and freight rates for petroleum products [for tanker size 30-35 thousand
deadweight tons (dwt)], leaving Mediterranean to North-West Europe also
increased by 13 points, or 6.5% to reach 213 points on WS.
Figure (5)
shows the freight rates for oil products to all three destinations
from July 2014 to July 2015.
Figure - 5
Monthly Spot Product Tanker Freight Rates, 2014 -2015
(World Scale)
Table (5)
and
(6)
in the annex show crude and products Tankers Freight
Rates, 2013-215.
2.Supply and Demand
Preliminary estimates in August 2015 show a decrease in world oil
demand by 0.5% or 0.5 million b/d, comparing with the previous month
to reach 95.5 million b/d, representing an increase of 2.1 million b/d from
their last year level.
Demand in OECD countries decreased by 1.3% or 0.6 million b/d
comparing with their previous month level to reach 46.2 million b/d,
representing an increase of 0.7 million b/d from their last year level.
Whereas demand in Non-OECD countries increased by 0.2% or 0.1 million
b/d comparing with their previous month level to reach 49.3 million b/d,
representing an increase of 1.4 million b/d from their last year level.