A decision by Opec to cut production to boost oil prices is expected to have reverberations for the tanker market, but analyst views are mixed on what the outcome may be.
The cartel of oil producing nations reportedly agreed to reduce cut production to as low as 32.5 million barrels per day at a meeting in Algeria today.
UBS analyst Spiro Dounis said the planned cut, which represents a reduction of 700,000 barrels per day, could impact 3% to 5% of the tanker fleet.
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