A production cut from Opec has been met with lower 2017 VLCC rate expectations from Morgan Stanley as Wall Street analysts crunch the numbers on how the decision will impact the market.
Last week the cartel agreed to reduce output by 1.2 million barrels per day, setting a new ceiling of 32.5 million barrels per day.
Fotis Giannakoulis of Morgan Stanley today took his red pen to 2017 VLCC forecasts, describing the decision as “an inflection point for the energy sector”.
“The
