Add another projection that VLCC rates could hit six figures.
Jefferies’ Omar Nokta said Opec’s signalling that it was shifting away from price protection and towards fighting for market share suggested oil supply could grow by 3.3m barrels per day next year, boosting VLCC utilisation as rates climb to $100,000 per day.
“This would tighten the tanker market balance significantly; we had projected tanker capacity utilisation to hold steady at 87.5%
