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Oil tanker companies may be in trouble if OPEC raises cuts

Posted on 09 April 2009

From Reuters: Any further output cuts by OPEC, coupled with an expected increase in vessels in 2009, may dampen the oil tanker companies’ ability to hold on to higher freight rates, denting their earnings potential in the coming quarters.

OPEC (Organization of the Petroleum Exporting Countries) oil supply fell in March, for the seventh consecutive month, but remained above its target as some members pumped more than agreed levels, a recent Reuters survey showed…..Full Article: Source


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