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Opec cuts hit freight rates
- Saudi Arabia: Monday, December 27 - 2004 at 08:30
Shipping rates have tumbled in the wake of Opec's decision to cut output by 1m bpd, reported Gulf News. Trends for Very Large Crude Carrier rates were weaker across the board, with shipowners competing fiercely for a lower amount of business.
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Peter J. CooperMonday, December 27 - 2004 at 08:30 UAE local time (GMT+4)
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