Tag: oil-production cuts

Energy, Industry Focus Areas, Logistics, Process

Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts

January 20, 2021

Via: Transport Topics

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route. Supertankers delivering 2 million-barrel shipments of the kingdom’s oil to China […]

Energy, Industry Focus Areas

OPEC+ Meets to Seek Compromise on Plan to Delay Output Hike

November 30, 2020

Via: Transport Topics

OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market. The coalition that pumps half the world’s crude is debating […]