Oil supply on track to increase in the face of near-term hurdles

Despite the general consensus 2022 will be a difficult year for tankers, one thing seems likely: there will be plenty of crude to move around.

Despite the near-term supply constraints that pushed oil prices over $90 per barrel on Friday, Gibson Shipbrokers pointed to International Energy Agency (IEA) calculations that showed that if Opec+ continues with its 400,000 barrel per day production increases it will be the largest ever annual oil supply increase, at 6.2m