Gas shortages raise oil demand as floating storage falls
Gas shortages could lift clean tanker rates as countries import more diesel to power generators. Opec said a sustained tankers recovery could take a year as emerging market demand and scrapping caught up
Oil demand is forecast to rise by half a million barrels per day as the global gas shortage drives a shift to using oil for power generation, the International Energy Agency says. Production is set to rise 2.7m barrels per day from September to the end of the year