Opec+ cuts: Boost to long-haul crude demand to soften hit to VLCCs, says BRS

The hit to VLCCs from a cut in oil production by Opec+ countries will be limited by a demand boost for long-haul crude from the Atlantic Basin to Asia, according to shipbroker BRS Group.

VLCCs are expected to bear the brunt of the 1.15m barrels per day cut from May as the largest carriers account for 85% of liftings from the Middle East region, where the cuts are focused.