Another Saudi Surprise
June 9th 2023
Will the OPEC+ production cut work this time?
As our regular readers may recall, we just wrote a Weekly Tanker Opinion about OPEC production cuts on April 7 (“OPEC Cuts And Tankers Tank”). Today, barely two months later we find ourselves talking about it again. Clearly, the previous output reductions did not generate the desired outcome (at least for some OPEC members). We will try to analyze what is behind this latest move and whether tanker owners should be concerned.
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