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DNB presents significant product tanker upgrade

Expectations for spot rates as well as asset values in product tanker are significantly upgraded by DNB Markets due to growth in the demand for oil.

Major Norwegian bank DNB upgrades its forecasts for spot rates and asset values in the product tanker market for several years going forward.

The upgrade is based on estimates from the International Energy Agency, IEA, according to which the growth in demand for oil has almost doubled since February.

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