As the shipping industry eagerly awaits OPEC's 2024 crude oil supply strategy, market participants are speculating on the potential impacts of production decisions on the tanker market. With a looming increase of 2.375mbd in January, questions arise about OPEC's approach amid discussions on individual country quotas, ambitions, and global economic factors. The report highlights key players like the UAE and Saudi Arabia, discusses challenges in bringing Venezuela back into the fold, and emphasizes the delicate balance OPEC faces in managing production levels while keeping prices stable amidst varying demand growth projections. The global economy's influence on OPEC's decisions remains a crucial factor for the industry's outlook.

SOURCE: GOOGLE