News Headlines:
OIL DAYBOOK EUROPE: OPEC+ Deal May Not Avert Supply Squeeze (Bloomberg)
The deal to boost production struck by OPEC+ after two weeks of haggling helped send oil prices tumbling. But the slump may not last long. While the alliance will gradually revive output shuttered during the pandemic, the increases might not be enough to fill the looming supply shortfall.
Tankers to Benefit From OPEC+ Output Boost, Jefferies Says (Bloomberg)
OPEC+ agreement to boost output should benefit tankers as more oil flowing will benefit shipping rates, Jefferies analyst Randy Giveans said in a note. Saying crude tanker market to gain tailwinds necessary to slowly boost rates during Q3 and more meaningfully in Q4.
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FIS Tankers Daily Report 2021-07-20
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