Tanker carriers await the effect of OPEC oil deal
The OPEC agreement to reduce oil output was already visible in January, but the effects still have yet to trickle into the tanker markets, writes investment bank Morgan Stanley in an analysis.
In January, the oil markets clearly felt the impact from the OPEC deal to reduce oil output. Overall, global oil supplies fell in January by 1.5 million barrels per day, according to a new report from the International Energy Agency (IEA).
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