Daily rates for smaller oil tankers have started to recover after OPEC+ and Saudi Arabia announced they would gradually add around 2 million barrels per day (bpd) of crude production on the market between May and July. Tanker owners anticipate a more lucrative second quarter compared to the lowest rates in over a decade seen in Q1, Lloyd’s List reports. Yet, the industry expects still expects difficulties in the coming months, especially in the supertanker segment. In the first quarter, tanker rates were impacted by the massive…
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