A very large crude carrier at a terminal in Ningbo-Zhoushan port in Zhejiang province, China. VLCCs have a dead weight tonnage, or cargo carrying capacity, of up to 2,50,000 tons. Picture: REUTERS
“Opec+ will push ahead with its cautious approach to supply in the year-end period. Set against this backdrop, oil bears will remain in hibernation mode,” said Stephen Brennock of oil broker PVM. “It would not surprise me in the least if we saw a sharp sell-off of $5 to $8 a barrel at some stage this week,” he said.
Source: Energy Industry News (energyindustrynews.net)
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