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OPEC to trim shipments as demand declines

Posted on 03 February 2014

The Organization of Petroleum Exporting Countries will reduce shipments through to mid-February as western demand falls with the end of winter in the northern hemisphere, according to Oil Movements.
OPEC, supplier of about 40 percent of the world’s oil, will reduce sailings by 90,000 barrels a day, or 0.4 percent, to 23.72 million barrels in the four weeks to Feb. 15, the researcher said today in a report. That compares with 23.81 million in the period to Jan. 18. The figures exclude two of OPEC’s 12 members, Angola and Ecuador………………………………………..Full Article: Source


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