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Tanker breakeven day finally arrives

The tanker markets have bottomed out, but bankers will still be worried about getting their loans back

The tanker markets have been horribly affected by the pandemic as global oil demand fell by 20% and has only slowly recovered half of those losses. Action by OPEC and Russia to reduce output has been followed by President Biden’s ban on exploration and production on US federal lands. Consequently, the global glut of crude oil and refined products inventories has slowly unwound. US inventories are finally back into their five-year range, falling to their lowest level for three years. Gasoline pr...

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