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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.

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