While tanker markets remain sluggish after Opec+ failed to agree a crude production hike, some analysts expect an eventual rate recovery driven by rising oil demand.
Opec and its Russia-led allies could not form a consensus over their output plan in their monthly negotiations in July, leading to weeks of uncertainty ahead for oil and tanker players.
“The Opec+ stalemate means that until a compromise can be reached, production quotas will remain at July’s levels,” the International Energy Agency (IEA) said in its latest monthly report.
