Deutsche Bank: Tanker carriers weakened by OPEC deal

The deal made by OPEC nations to reduce oil production, starting next year, corresponds to a decrease in demand of 32 Very Large Crude Carriers – or 4.5 percent of the existing fleet, according to the first assessment of the effects triggered by the international agreement.

Photo: BW Shipping

The decision made by OPEC to reduce oil production for the first time in eight years will impact tanker carriers in the short term, projects Deutsche Bank in a brief after the deal was announced Wednesday by the oil exporting nations. The deal will take effect from next year, and Saudi Arabia, Iraq, the United Arab Emirates, and Kuwait will take the lion's share of the total cuts.

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