The impact of new Opec+ production cuts will be muted for the tanker sector, with alternative producers shipping barrels longer distances to keep prospects positive, according to analysts.

Opec+ producers on Thursday announced voluntary cuts of an additional 2.2m barrels per day (bpd) in 2024, with Saudi Arabia leading the way with a continuing 1m bpd cut.

Saudi Arabia first announced the cut in July, which will now continue until at least the end of March.