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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC to reduce shipments as demand weakens, Oil Movements says

Posted on 23 August 2013

The Organization of Petroleum Exporting Countries will reduce shipments through to early September as summer demand for driving fuels ebbs, tanker-tracker Oil Movements said.
The group, which supplies about 40 percent of the world’s oil, will cut exports by 320,000 barrels a day, or 1.3 percent, to about 23.6 million barrels a day in the four weeks to Sept. 7 from the period to Aug. 10, 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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