Skip to content
Subscriber Only

Oil Tanker Owners Drop in Wake of Shock Move By OPEC+

  • Benchmark trade route has been loss-making for about a month
  • OPEC+ move ‘disappointing’ as demand is strong: Frontline CEO
Video player cover image
Oil Markets at Risk of Overtightening, Analyst Sen Says

OPEC+’s surprise move to keep a lid on crude exports is hitting oil tanker owners afresh.

Shares of owners giant supertankers including Frontline Ltd., International Seaways Inc. and DHT Holdings Inc. all fell late Thursday and into Friday. The Organization of Petroleum Exporting Countries and its allies wrong-footed oil traders on Thursday by keeping oil production for April almost unchanged when the market had been expecting more barrels.