News Headlines:
OIL DAYBOOK EUROPE: OPEC+ Buffer Not All It Seems; IEA Report (Bloomberg)
As oil demand roars back from the pandemic shock, the world may soon clamor for more crude from OPEC+. But the coalition doesn’t have all the barrels it’s advertising. On paper, the alliance will still have a gigantic 5.8 million barrels of daily production off-line — almost 6% of global supply — when it gathers next month to discuss whether to revive more output.
Benchmark Oil Tanker Losses Stretch to the Deepest Since March (Bloomberg)
Rates for hauling oil on the benchmark Middle East-to-China route slipped 0.4% to WS 31.18 * That equates to -$4,150/day, the biggest loss since March 19
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FIS Tankers Daily Report 2021-06-11
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