(Bloomberg) -- Tanker stocks suffered their biggest daily drop for months after OPEC+ leaders Saudi Arabia and Russia pledged to keep deeper supply cuts until the end of the year.

Among the names to decline were: 

• Frontline Plc, down as much as 5.8%, the most since June
• DHT Holdings Inc., down as much as 5%, also the most since June
• Scorpio Tankers Inc., down as much as 4.7%, the most since July
• International Seaways Inc., down as much as 5.5%, the most since early July

Daily benchmark tanker earnings on Monday touched the lowest level in more than a year and the prolonged supply reductions will continue to suppress the number of cargoes available for ships to haul. 

Saudi Arabia and Russia said on Tuesday that they would continue with additional voluntary supply curbs until the end of the year, a move that pushed Brent crude above $90 for the first time this year.

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