Splash Extra

Praying for sanctions

Tankers are back to where they were at the start of the year

Just as the OPEC oil production madness in April boosted freight rates from the Middle East Gulf and everywhere else, so will cuts in oil production knock freight rates out. 

OPEC cuts are set to last through to April 2022. Gradually reducing from current levels, they take out 5.8m barrels per day from January 2021 to April 2022. Will it really last that long? Splash Extra seriously doubts it. Oil prices have recovered too much already. 

Production cuts should have r...

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