Tanker freight rates strengthen even as electric cars weigh on oil demand growth
Rising tonne-mile demand growth and oil trade imbalances offset contracting global growth forecasts, lifting earnings for global fleet
Slowing demand for middle distillates, such as diesel, gasoil and jet fuel, underpinned this month’s lower oil demand growth forecast of 1.1m bpd, to reach 103.2m bpd in 2024