Opec and its allies have reportedly decided to keep the taps turned off, but there is a light at the end of the tunnel for VLCC owners.
Opec+ decided to delay oil production hikes until April and then begin a slow unwinding process through to 2026 at an online meeting held on Thursday, according to several media reports.
The VLCC market has been expecting the group to start raising production at some point this year, in a move that players and observers believe would put more oil on the water and boost rates.
