Struggling West African oil producers are harming demand for suezmax tankers, according to French shipbroking group Barry Rogliano Salles (BRS).
The Paris shop said data suggests Opec members Nigeria and Angola are the exporting group’s “largest laggards,” amid a pullback in investment from international oil companies.
Investment fell in the wake of 2020’s oil price crash, but unlike in other countries, it has not rebounded strongly as oil majors look to put their money into more attractive opportunities elsewhere, BRS argued in its latest weekly report.
