20 / 32
Petroleum Devolopments
Volume 41 Issue 12
20
with previous month to reach 106 points on WS, whereas freight rates for
Petroleum Products across Mediterranean [for tanker size 30-35 thousand
deadweight tons (dwt)], increased by 13 points, or 10.5% to reach 137
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 9.7% to reach 147 points on WS.
Figure (5)
shows the freight rates for oil products to all three destinations
from September 2014 to September 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 October 2015 show an increase in world oil
demand by 0.2% or 0.2 million b/d, comparing with the previous month
to reach 95.8 million b/d, representing an increase of 1.7 million b/d from
their last year level.
Demand in OECD countries increased by 1.3% or 0.6 million b/d
comparing with their previous month level to reach 46.6 million b/d,
representing an increase of 0.2 million b/d from their last year level.
Whereas demand in Non-OECD countries decreased by 0.8% or 0.4 million
b/d comparing with their previous month level to reach 49.2 million b/d,
representing an increase of 1.5 million b/d from their last year level.