THE TRUSTED SHIP BROKER FROM THE MIDDLE EAST

As oil is the most widely used source of energy, the growing demand for energy and transportation is driving the transportation of oil. As oil demand is likely to stay on an upward trajectory in the medium term, the probability of a fast transition away from oil decreases unless we witness breakthroughs in those low-carbon energy carriers that can technically and economically substitute oil.  Oil demand will rise further in the medium term, as low-carbon alternatives are not yet sufficiently developed or economically competitive to offset the growing demand for transportation and industrial services. by the mid-2030s, transport demand growth for oil is expected to slow to a trickle, while demand for non combusted oil use - particularly in the petrochemicals industry - will become the chief driver of oil demand growth.