Low oil inventories have provided the impetus for inefficient stopping and starting of tanker charters. Over the past few months, each month has brought a fresh chartering programme that temporarily tightens the market.Then, it softens. Now, weather patterns are entering the market mix in a big way. Morgan Stanley equity analyst Ole Slorer, provided a prognosis for the tanker market in mid-September: "Recent crude oil shipping patterns suggest OPEC has reduced Middle East exports by 500,000bpd. Hurricanes, along with severe production outages and field delays in the Atlantic during 2H08, should contribute to a falling inventory pattern in key regions, thereby continuing to deliver a surprisingly strong tanker market."
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