The global oil market is set to shift into inventory building in a trend that should boost tankers, Clarksons Platou Securities said.

In a note published on Monday, the bank said the International Energy Agency (IEA) forecast that oil production would exceed global oil demand, pushing the market to buy more oil, rather than pulling from reserves.

“A move from inventory draws to inventory builds will almost certainly result in a more dynamic tanker market,” the firm said.