New coronavirus lockdowns have prompted Norwegian investment bank Cleaves Securities to downgrade its outlook for tanker owners.
The company said renewed restrictions due to a surge in cases will have a "profound" effect on earnings and hit asset and share prices.
"Global oil supply will have to stay lower for longer in order to rebalance the market and draw down inventories," head of research Joakim Hannisdahl and equity research analyst Peter Michael Christensen said.
