The sentiment in the Middle East remains cautiously optimistic and vessel owners reiterate that work is still enough to go around, just that contract negotiations will take longer than usual. Boosted by the upturn in oil prices recently, there is now hope that development plans previously put on hold will be resumed. Even OPEC has commented on the recovery of the oil price, saying that the worst of the economic crisis has passed and that industrial production activities and hence oil demand is steadying and has even improved slightly.
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