src="/files/fa/news/es/Thumbnails/6ffa2fa7-3596-4bb7-af36-ed7f1b67cb6c_260_199.jpeg' class='img_convert' title='Opec Cut Extension May Prolong Tanker Downturn' alt='Opec Cut Extension May Prolong Tanker Downturn'>
According to MANA, The oil cartel and 11 non-Opec producers, including Russia, agreed to cut their output by a total of 1.8m barrels per day last November, and the initial six-month deal is set to expire on June 30.
With still-high oil stocks globally, they decided to maintain the production cut until the end of March 2018 in a ministerial meeting in Vienna on Thursday.
Spot earnings for very large crude carriers on the Middle East-Asia route closed at $16,105 per day on Thursday, compared with the year-ago level of $69,594.
The next Opec and non-Opec ministerial meeting will be held on November 30.