The decision by OPEC+ to raise output by another 400kbd in March came as little surprise to the oil market, which had largely priced in further modest output increases from the group. It took ministers just 16 minutes to sign off on the 400kbd uplift, yet even with this, the fact remains that the wider OPEC+ group pumped 790kbd below target in December.
The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
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