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VLCC rates firmer on demand
- Saudi Arabia: Monday, March 21 - 2005 at 07:45
Rates for Very Large Crude Carriers have firmed from 75 to 100 on the Worldscale index. Observers said this reflected the fact that all Opec countries are producing as much oil as they can except Saudi Arabia. Opec members forecast a year end demand of 30m bpd compared with 27.5m bpd at present. It is not clear from where that oil will come.
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Peter J. CooperMonday, March 21 - 2005 at 07:45 UAE local time (GMT+4)
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This article was updated on Sat Oct 28 2006.
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