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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC supply increase slows as demand eases, Oil Movements says

Posted on 18 January 2013

The Organization of Petroleum Exporting Countries will curb its increase in shipments this month as Saudi Arabia reduced production and mild temperatures check demand, according to tanker tracker Oil Movements.
The group that supplies about 40 percent of the world’s oil will export 23.64 million barrels a day in the four weeks to Feb. 2, up 70,000 barrels, or 0.3 percent, from the previous period, the researcher said today in an e-mailed report. The figures exclude Angola and Ecuador. Shipments were to gain 210,000 barrels a day in the four weeks to Jan. 26………………………………………..Full Article: Source


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