Opec and its Russia-led allies have confirmed that their crude production will increase from next month, offering no surprise to a muted tanker market.
During a technical meeting on Wednesday, Opec+ delegates agreed to raise their output by 2m barrels per day (bpd) based on a previous supply deal amid a gradual recovery in oil demand.
The widely expected decision is seen as positive for tanker markets, but charter activity has remained slow as many producers are only expected to finalise their August...
