Market participants in the tanker industry are closely watching for OPEC's 2024 crude oil supply strategy. While there is an expectation for increased production, uncertainties surround the actual volumes as major OPEC producers discuss their quotas. Countries like Nigeria, Angola, and the UAE have ambitions to boost production, with considerations for Saudi Arabia leading potential supply growth. The challenge for OPEC lies in managing individual members' goals while aligning with global economic demands and expectations. The decision on 2024 production targets will significantly impact the tanker market and oil prices.

SOURCE: GOOGLE