Demand for tanker transportation to fall by 10% in 2009 – expert

The demand for tanker transportation will fall by 10% in 2009 due to production decrease by OPEC states, Pareto Securities AS Erik Helberg forecasts according to Bloomberg, RZD-Partner reports.

OPEC has cut quotes by 80%, Saudi Arabia has decreased production to below 8 mln barrels per day for the first time from November 2002 to stop the decrease of oil prices, RZD-Partner reminds.

Pareto also forecasts the decrease of the demand for oil storage tankers and global consumption of oil by 1.2% (or by 1 mln barrels per day) in 2009.

Source: Portnews