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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC cuts exports to lowest in four months, Oil Movements says

Posted on 10 January 2014

The Organization of Petroleum Exporting Countries will cut crude shipments to the lowest level since September as refineries trim imports before conducting maintenance in the spring, according to Oil Movements.
OPEC, supplier of about 40 percent of the world’s oil, will reduce sailings by 390,000 barrels a day, or 1.6 percent, to 23.71 million barrels in the four weeks to Jan. 25, the researcher said today in a report. That compares with 24.1 million in the period to Dec. 28. The figures exclude two of OPEC’s 12 members, Angola and Ecuador……………………………..Full Article: Source


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