Forward markets are pricing a nearly 14% drop in tanker rates in the immediate wake of a potential agreement to cut crude oil production.
But market watchers caution that it is still uncertainty over how much impact will be felt in the tanker market.
The Baltic Exchange’s assessment for 2017 rates on very large crude carriers moving from the Middle East Gulf to Japan fell $3,334 to $20,972 per day.
Opec’s
