Euronav CEO on 3Q Results, Shipping, Oil Demand

The video discusses the current state of the crude oil shipping market, highlighting the oversupply of large crude carriers and its impact on pricing. It examines the strong demand growth since 2013 and the challenges of managing the fleet size. The video also explores the effects of Saudi Arabia's production cuts on shipping routes and the implications of China's growing oil demand. Finally, it considers the potential outcomes of extended OPEC supply cuts, particularly in relation to Saudi Arabia's budgetary needs and the Aramco sale.

What is the main factor currently depressing the crude oil shipping market?

• Lack of new ship orders

• Increased oil prices

• Oversupply of very large crude carriers

• High demand for oil

How have Saudi Arabia's production cuts affected shipping routes?

• Ships are traveling empty for longer distances

• Ships are making shorter trips

• Ships are now carrying more heavy oils to the US

• There is no change in shipping routes

What has been the impact of longer empty voyages on shipping rates?

• Rates are unaffected

• Rates have decreased

• Rates have increased

• Rates have remained stable

What is a potential consequence of OPEC extending its supply cuts?

• Increased oil production in Saudi Arabia

• Higher oil prices affecting Saudi budget

• More ships being built

• Decreased demand for oil

What strategic reason might Saudi Arabia have for continuing supply cuts?

• To encourage new shipbuilding

• To reduce shipping costs

• To support the Aramco sale

• To increase global oil demand