(Bloomberg) -- The cost of shipping Middle East
crude to Asia, which fell yesterday for the first time in five
days, may rise as OPEC members increase oil production,
bolstering tanker demand.
The expectation of higher output may allow operators to
negotiate higher charter rates, said Nikos Varvaropoulos, a
tanker broker for Optima Shipbrokers in Athens. The
International Energy Agency, an adviser to 26 oil-consuming
nations, said June 12 that the Organization of Petroleum
Exporting Countries' production will climb by 700,000 barrels a
day in the third and fourth quarters.
Read more at Bloomberg Energy News
crude to Asia, which fell yesterday for the first time in five
days, may rise as OPEC members increase oil production,
bolstering tanker demand.
The expectation of higher output may allow operators to
negotiate higher charter rates, said Nikos Varvaropoulos, a
tanker broker for Optima Shipbrokers in Athens. The
International Energy Agency, an adviser to 26 oil-consuming
nations, said June 12 that the Organization of Petroleum
Exporting Countries' production will climb by 700,000 barrels a
day in the third and fourth quarters.
Read more at Bloomberg Energy News
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