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Commodities Briefing - Categorized | Oil, Trading more

OPEC exports to drop as US output gains

Posted on 05 November 2013

The Organisation of Petroleum Exporting Countries will cut crude exports through mid-November as rising US 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 per cent, to 23.78 million barrels in the four weeks to Nov. 16, the tanker tracker said 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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