Organization of Arab Petroleum Exporting Countries
Petroleum
Devolopments
Volume 40 Issue 5
28
Freight rates for Petroleum Products across Mediterranean [for tanker size
30-35 thousand deadweight tons (dwt)], decreased by 13 points, or 7.9% to
reach 152 points on WS, similarly freight rates for petroleum products [for
tanker size 30-35 thousand deadweight tons (dwt)], leaving Mediterranean to
North-West Europe decreased by 13 points, or 7.4% to reach 162 points on
WS.
Figure (5)
shows the freight rates for oil products to all three destinations
from February 2013 to February 2014.
Table (5)
and
(6)
in the annex show crude and products Tankers Freight
Rates, 2012-2014.
Figure - 5
Monthly Spot Product Tanker Freight Rates, 2013 -2014
(World Scale)
2.Supply and Demand
Preliminary estimates in March 2014 show a decrease in world oil demand
by 2.7% or 2.5 million b/d, comparing with the previous month to reach 90.1
million b/d, representing an increase of 0.8 million b/d comparing with their
last year level.
Demand in OECD countries decreased by 2.6% or 1.2 million b/d
comparing with their previous month level to reach 45.3 million b/d, same
of previous year’s level. Similarly, demand in Non-OECD countries also
decreased by 2.8% or 1.3 million b/d comparing with their previous month
level to reach 44.8million b/d, representing an increase of 0.8 million b/d from
their last year level.
