Time lag: Clarksons explains why tanker trade is trailing oil demand and supply curve

Global oil supply and demand have seen major improvements from the Covid-driven lows of 2020, Clarksons Research data shows.

So why is seaborne tanker trade lagging well behind these improvements?

By the fourth quarter of last year, oil demand stood down only 1% versus 2019, having averaged 16% below this in the second three-month period of 2020, the UK research company said.