World-leading Indian oil demand growth to fuel product tanker market, says Poten - TradeWinds
World-leading Indian oil demand growth to fuel product tanker market, says Poten | TradeWinds
Tanker trades across the board are likely to benefit from growing Indian demand for oil driven by the country’s growing middle classes, according to Poten & Partners.
India is predicted to narrowly outstrip China to become the largest source of global oil growth demand for the rest of this decade, with implications for the tanker trade, according to the International Energy Agency.
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.