Oil tanker owners and shipbrokers are set to suffer longer than expected from the massive OPEC+ production cuts after the coalition surprised the oil and tanker markets on Thursday by deciding to keep oil production flat in April. The cuts from the OPEC+ group were already hurting the oil tanker market at the start of this year amid reduced availability of seaborne shipments from the world’s top oil exporter, Saudi Arabia, and a rising number of oil tankers available on the market after months of serving as floating storage. As early as in…
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