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

Posted on 17 January 2014

The Organization of Petroleum Exporting Countries will cut crude shipments to the lowest level since late November as demand from Asia remains weak, according to Oil Movements.
OPEC, supplier of about 40 percent of the world’s oil, will reduce sailings by 660,000 barrels a day, or 2.7 percent, to 23.49 million barrels in the four weeks to Feb. 1, the researcher said today in a report. That compares with 24.15 million in the period to Jan. 4. The figures exclude two of OPEC’s 12 members, Angola and Ecuador………………………………………..Full Article: Source


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