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42
Volume
44
Issue
1
Whereas Freight rates for Petroleum Products across Mediterranean [for
tanker size 30-35 thousand deadweight tons (dwt)], decreased by 12 points, or
7.6% to reach 146 points on WS, and 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 7.7% to reach 156 points on WS.
Figure (5)
shows the freight rates for oil products to all three destinations
from November 2016 to November 2017.
Figure - 5
Monthly Spot Product Tanker Freight Rates, 2016 -2017
(World Scale)
Table (5)
and
(6)
in the annex show crude and products Tankers Freight
Rates, 2015-2107.
2.Supply and Demand
Preliminary estimates in November 2017 show a decrease in world oil
demand by 0.4% or 0.4 million b/d, comparing with the previous month level
to reach 98.6 million b/d, representing an increase of 1.5 million b/d from
their last year level.
Demand in OECD countries increased by 2.1% or 1 million b/d comparing
with their previous month level to reach 47.7 million b/d, representing an
increase of 0.4 million b/d from their last year level. Whereas demand in Non-
OECD countries decreased by 2.7% or 1.4 million b/d comparing with their
previous month level to reach 50.9 million b/d, representing an increase of
1.1 million b/d from their last year level.