OPEC crude production sees lowest level in 4 years

OPEC crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years, said Gibson Shipbrokers in its weekly tanker market report. The heavy crude market is already incredibly tight and production cuts come at a time when demand for heavy grades is rising, the report notes.

Middle East

A disappointing week for previously hopeful VLCC Owners, slow throughout as final March needs were merely dripfed into the marketplace, with full April programmes only in hand from...

https://safety4sea.com/opec-crude-production-sees-lowest-level-in-4-years/

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