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Commodities Briefing - Categorized | Oil, Trading more

OPEC to reduce exports by most this year, Oil Movements says

Posted on 09 August 2013

The Organization of Petroleum Exporting Countries will cut shipments by the most since December as refiners in the U.S. and Europe conduct seasonal maintenance, tanker-tracker Oil Movements said.
The group, which supplies about 40 percent of the world’s oil, will cut exports by 740,000 barrels a day, or 3 percent, to about 23.7 million barrels a day in the four weeks to Aug. 24 from the period to July 27, the researcher said today in an e-mailed report. The figures exclude two of OPEC’s 12 members, Angola and Ecuador………………………………………..Full Article: Source


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