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Tanker rates increase alongside oil production

Rates for VLCC vessels are skyrocketing after global oil production experienced a boost. Increased exports from Russia and Nigeria in particular are pushing rates up, writes Clarksons Platou in a new analysis.

Photo: Wintershall

Global oil production has started to pick up, and this is reflected in the rates for crude oil tankers.

Clarksons Platou notes in a new analysis that rates for VLCC vessels have shot up in the past two days and are now hovering around USD 45,000 per day.

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