Focus on Biofuel Refineries

The biofuel refinery sector has been going through capacity adjustments over the last 12 months. What are the major changes and what are the expectations for the biofuels production capacity and demand over the next few years?

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OPEC+ Accelerating the Reversal of Production Cuts

The phased reversal of 2.2m b/d of OPEC+ production cuts was further accelerated on Saturday, with the organisation releasing a further 411,000 b/d into the market for June. What might this mean for the tanker market heading into the summer months?

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Tanker Fleet Developments

Amid aging fleets, contracting challenges, and rising demand for modern, efficient vessels, the tanker fleet is set for substantial growth in 2025 and beyond, with approximately 23.2m dwt scheduled for delivery this year, primarily driven by coated product tankers.

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OPEC+ Overproduction Compensation

OPEC+ plans to restore 2.2 million b/d by September 2026, but near-term impacts are limited as compensation cuts from key overproducers offset increases until July. Medium-term prospects remain positive for crude tankers.

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