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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC exports to drop as U.S. output gains, Oil Movements says

Posted on 01 November 2013

The Organization of Petroleum Exporting Countries will cut crude exports through mid-November as rising U.S. output allows the nation to curb purchases from the Middle East and Africa, according to Oil Movements.
OPEC, which supplies about 40 percent of the world’s oil, will reduce sailings by 80,000 barrels a day, or 0.3 percent, to 23.78 million barrels in the four weeks to Nov. 16, the tanker tracker said today in a report. That compares with 23.86 million in the period to Oct. 19. The figures exclude two of OPEC’s 12 members, Angola and Ecuador…………………….Full Article: Source


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