OPEC’s landmark decision to limit oil production was unexpected and led oil prices to climb 9% on the day. If sustained, this could increase shippers’ bunker fuel costs as the two have tracked closely in the past. These were already 12% higher in the fourth quarter than the third. Bulk rates had already increased. The Baltic Dry Index is at the highest in two years on the expectation of reflationary policies from President-elect Trump, while Dirty Tanker rates have climbed back up to early 2016 levels and tend to track oil prices.