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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC to cut shipments as Asian demand ebbs, Oil Movements says

Posted on 25 January 2013

The Organization of Petroleum Exporting Countries will reduce shipments through to early February as late winter demand fails to materialize in Asia, according to tanker tracker Oil Movements.
The group that supplies about 40 percent of the world’s oil will export 23.7 million barrels a day in the four weeks to Feb. 9, down 150,000 barrels, or 0.6 percent, from the previous period, the researcher said today in an e-mailed report. Shipments normally climb at this time of the year with the last phase in winter demand in the northern hemisphere, according to the consultant. The figures exclude Angola and Ecuador………………………………………..Full Article: Source


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