Global Crude Oil Carriers Market to Be Driven by High Demand for Low-Cost Oil from Storage Facilities
Oil tankers specially designed for shipping petroleum liquids such as crude oil, called oil carriers, are an integral part of the bulk transportation of petroleum products across international seaborne routes. The global crude oil carriers market is thus a multibillion-dollar industry; it had a valuation of US$160 bn in 2015. A recent market research report published by Transparency Market Research states that the market will expand at a 3.5% CAGR over the period between 2016 and 2024. As a result,...
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