ShippingWatch

Observers confident in tanker market despite OPEC decision

OPEC decision to cut output will only have limited impact on the tanker market, according to Morgan Stanley and Clarksons Platou. Several factors will provide stability for the market.

Photo: DHT Holdings

OPEC members' production cut is bad news for the tanker market, according to Morgan Stanley and analyst firm Clarksons Platou. However, both institutions maintain their confidence in the market.

In new analyses, both observers conclude that OPEC's decision to cut oil production with 1.2 million barrels per day from January 2019 could potentially result in deficits on the tanker market.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs