Morgan Stanley: OPEC meeting good news for tankers

The OPEC countries' move to sustain a high oil output for the rest of the year is good news for tanker carriers. The rebound could be intensified if a political agreement is finalized with Iran ahead of June 30th.

Photo: BW Shipping

OPEC's decision to maintain the current output comes as good news for the tanker market, notes Morgan Stanley in a brief following the meeting of the oil producing economies before the weekend.

The countries' lack of desire to create balance in the oil market will ensure a strong freight market and help keep oil prices down, which combined will push global demand to new heights, says the US-based financial group.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

HMM doubled revenue in Q1

South Korean container line HMM follows the trend of European competitors, which have already presented their first-quarter financials. Revenue doubled in a significant surge.

Further reading

Related articles

Latest news

See all jobs