French shipbroker Barry Rogliano Salles (BRS) has warned suffering tanker owners not to pin all their hopes on Saudi Arabia turning on the crude taps.
The Paris shop noted stronger demand for VLCCs in the Middle East, with all signs pointing to further improvements in vessel use this year.
“Considering that almost 80% of Middle East crude exports are carried by VLCCs, this implies that this segment stands to benefit the most from the Middle East increasing its share of global oil production,” BRS said.
